TCG Advisory Services LLC Makes New $562,000 Investment in Amgen Inc. (NASDAQ:AMGN)

TCG Advisory Services LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,952 shares of the medical research company’s stock, valued at approximately $562,000.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMGN shares. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $230.00 to $300.00 in a research report on Friday. TD Cowen dropped their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Oppenheimer reiterated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Morgan Stanley upped their price target on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $305.05.

Amgen Stock Up 11.8 %

NASDAQ:AMGN traded up $32.90 on Friday, hitting $311.29. The stock had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The firm’s fifty day simple moving average is $274.95 and its two-hundred day simple moving average is $281.46. The stock has a market cap of $166.97 billion, a P/E ratio of 44.47, a price-to-earnings-growth ratio of 3.01 and a beta of 0.60. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 145.62% and a net margin of 12.74%. Amgen’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company posted $3.98 earnings per share. Analysts predict that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is currently 128.57%.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Amgen 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.