Amgen Inc. (NASDAQ:AMGN) is Oak Asset Management LLC’s 2nd Largest Position

Oak Asset Management LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 63,699 shares of the medical research company’s stock after acquiring an additional 216 shares during the quarter. Amgen accounts for approximately 7.3% of Oak Asset Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Oak Asset Management LLC’s holdings in Amgen were worth $18,347,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in Amgen in the 3rd quarter valued at $26,000. Briaud Financial Planning Inc bought a new position in Amgen in the 3rd quarter valued at $26,000. VisionPoint Advisory Group LLC bought a new position in Amgen in the 2nd quarter valued at $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Amgen during the 1st quarter worth $28,000. Finally, Providence Capital Advisors LLC bought a new stake in shares of Amgen during the 3rd quarter worth $30,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group lifted their target price on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. BMO Capital Markets upgraded shares of Amgen from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $286.00 to $326.00 in a research report on Tuesday, December 19th. Finally, Morgan Stanley decreased their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $295.30.

Read Our Latest Research Report on Amgen

Amgen Stock Performance

AMGN stock traded down $1.10 during midday trading on Wednesday, reaching $275.11. 283,480 shares of the company’s stock traded hands, compared to its average volume of 2,966,054. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The stock has a market cap of $147.44 billion, a P/E ratio of 22.11, a PEG ratio of 2.67 and a beta of 0.58. The stock’s 50-day moving average is $288.00 and its 200 day moving average is $281.45. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGNGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter last year, the business posted $4.09 EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, analysts anticipate that Amgen Inc. will post 19.48 EPS for the current year.

Amgen Dividend Announcement

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 issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 72.06%.

About Amgen

(Free Report)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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