Twin Capital Management Inc. Raises Stock Position in Amgen Inc. (NASDAQ:AMGN)

Twin Capital Management Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 195.0% in the fourth quarter, HoldingsChannel reports. The firm owned 14,795 shares of the medical research company’s stock after buying an additional 9,779 shares during the quarter. Twin Capital Management Inc.’s holdings in Amgen were worth $4,261,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMGN. Moneta Group Investment Advisors LLC grew its position in shares of Amgen by 83,875.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after purchasing an additional 7,532,031 shares in the last quarter. Norges Bank bought a new position in shares of Amgen in the 4th quarter valued at about $1,351,778,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amgen by 158.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock valued at $774,791,000 after acquiring an additional 1,806,456 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Amgen in the 4th quarter valued at about $4,589,900,000. Finally, Morgan Stanley lifted its holdings in shares of Amgen by 12.9% in the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock valued at $3,493,471,000 after acquiring an additional 1,523,665 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMGN. TD Cowen decreased their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. UBS Group decreased their price objective on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Raymond James started coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Price Performance

Shares of Amgen stock traded down $0.48 during trading hours on Thursday, reaching $263.59. The stock had a trading volume of 609,329 shares, compared to its average volume of 2,831,764. The stock’s 50 day moving average is $277.99 and its 200 day moving average is $281.37. The firm has a market capitalization of $141.26 billion, a PE ratio of 21.14, a PEG ratio of 2.47 and a beta of 0.58. Amgen Inc. has a twelve month low of $211.71 and a twelve month 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.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.09 earnings per share. Equities analysts expect that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.41%. 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.