Cumberland Partners Ltd Invests $1.03 Million in Amgen Inc. (NASDAQ:AMGN)

Cumberland Partners Ltd bought a new position in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, Holdings Channel reports. The firm bought 3,580 shares of the medical research company’s stock, valued at approximately $1,028,000.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Amgen in the 3rd quarter worth about $26,000. Briaud Financial Planning Inc bought a new stake in shares of Amgen in the 3rd quarter worth about $26,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen in the 4th quarter worth about $29,000. Providence Capital Advisors LLC bought a new stake in Amgen during the 3rd quarter valued at about $30,000. Finally, Planned Solutions Inc. bought a new stake in Amgen during the 4th quarter valued at about $30,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN traded up $0.25 during trading hours on Wednesday, hitting $273.79. The stock had a trading volume of 1,242,489 shares, compared to its average volume of 2,824,360. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The firm has a 50-day moving average price of $276.11 and a 200 day moving average price of $281.61. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The firm has a market capitalization of $146.85 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.53 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the previous year, the business posted $4.09 EPS. The business’s revenue was up 19.8% compared to the same quarter last year. As a group, research analysts anticipate that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is presently 72.06%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. Truist Financial reiterated a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. The Goldman Sachs Group lifted their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Finally, UBS Group reduced their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $296.95.

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.