CX Institutional Buys 81 Shares of Amgen Inc. (NASDAQ:AMGN)

CX Institutional lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,436 shares of the medical research company’s stock after purchasing an additional 81 shares during the period. CX Institutional’s holdings in Amgen were worth $10,539,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC raised its holdings in Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC boosted its position in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC boosted its stake in Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after purchasing an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after acquiring an additional 676,598 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMGN. Truist Financial dropped their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Piper Sandler dropped their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. TD Cowen increased their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Stock Performance

Amgen stock opened at $274.87 on Friday. The firm’s fifty day moving average price is $271.91 and its 200 day moving average price is $306.43. The company has a market capitalization of $147.75 billion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 earnings per share. On average, research analysts forecast that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

About Amgen

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.