Horan Capital Advisors LLC. Has $3.84 Million Position in Amgen Inc. (NASDAQ:AMGN)

Horan Capital Advisors LLC. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,334 shares of the medical research company’s stock after selling 604 shares during the period. Amgen makes up about 1.4% of Horan Capital Advisors LLC.’s portfolio, making the stock its 23rd biggest holding. Horan Capital Advisors LLC.’s holdings in Amgen were worth $3,840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. International Assets Investment Management LLC acquired a new position in Amgen in the 4th quarter valued at $4,589,900,000. Assenagon Asset Management S.A. raised its holdings in Amgen by 486.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after acquiring an additional 745,929 shares in the last quarter. abrdn plc increased its stake in shares of Amgen by 150.4% in the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after purchasing an additional 626,810 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Amgen by 111.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 989,061 shares of the medical research company’s stock valued at $284,869,000 after purchasing an additional 522,367 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Amgen by 11.4% in the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after purchasing an additional 518,689 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. TD Cowen decreased their price target on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada decreased their price target on Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a research note on Friday. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus price target of $305.05.

Amgen Trading Up 11.8 %

Shares of NASDAQ AMGN traded up $32.90 during trading on Friday, reaching $311.29. The company had a trading volume of 9,644,103 shares, compared to its average volume of 2,894,568. The company’s fifty day moving average price is $274.51 and its 200-day moving average price is $281.33. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72. The stock has a market cap of $166.97 billion, a P/E ratio of 24.92, a PEG ratio of 2.68 and a beta of 0.60. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The firm had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.98 EPS. As a group, research analysts expect that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is 72.06%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

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.