Amgen Inc. (NASDAQ:AMGN) Position Increased by Stablepoint Partners LLC

Stablepoint Partners LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,469 shares of the medical research company’s stock after acquiring an additional 135 shares during the period. Amgen makes up about 1.1% of Stablepoint Partners LLC’s holdings, making the stock its 23rd largest holding. Stablepoint Partners LLC’s holdings in Amgen were worth $5,856,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in Amgen in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen during the 3rd quarter worth $29,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen in the second quarter worth $30,000. Matrix Trust Co acquired a new position in shares of Amgen during the third quarter valued at $36,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Amgen during the third quarter valued at about $56,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Down 0.9 %

Shares of NASDAQ AMGN opened at $275.42 on Friday. The stock has a market cap of $148.05 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56. The business has a 50 day simple moving average of $271.39 and a 200 day simple moving average of $305.99. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

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

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 115.24%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AMGN shares. Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. TD Cowen boosted their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft decreased their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Wells Fargo & Company dropped their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. Finally, Barclays raised their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $314.65.

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.