Intelligence Driven Advisers LLC Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Intelligence Driven Advisers LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 10.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,649 shares of the medical research company’s stock after purchasing an additional 158 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in Amgen were worth $518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMGN. OFI Invest Asset Management bought a new stake in shares of Amgen during the 3rd quarter valued at $26,000. Briaud Financial Planning Inc bought a new position in Amgen in the 3rd quarter worth about $26,000. BOK Financial Private Wealth Inc. bought a new position in Amgen in the 4th quarter worth about $29,000. Providence Capital Advisors LLC bought a new position in Amgen in the 3rd quarter worth about $30,000. Finally, Planned Solutions Inc. bought a new position in Amgen in the 4th quarter worth about $30,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Truist Financial restated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Raymond James began coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. UBS Group cut their price objective on Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. The Goldman Sachs Group upped their price objective on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, TD Cowen cut their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $297.40.

Amgen Trading Down 0.1 %

NASDAQ AMGN traded down $0.33 on Thursday, hitting $277.04. The company’s stock had a trading volume of 1,254,057 shares, compared to its average volume of 2,791,824. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The company’s 50-day simple moving average is $274.64 and its 200 day simple moving average is $281.35. The firm has a market cap of $148.60 billion, a P/E ratio of 22.11, a PEG ratio of 2.65 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the company earned $4.09 EPS. The business’s revenue was up 19.8% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.