1,506 Shares in Amgen Inc. (NASDAQ:AMGN) Bought by Morningstar Investment Management LLC

Posted by Danessa Lincoln on May 26th, 2023

Morningstar Investment Management LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,506 shares of the medical research company’s stock, valued at approximately $396,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Roundview Capital LLC boosted its holdings in Amgen by 1.3% during the first quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock worth $2,027,000 after buying an additional 107 shares in the last quarter. Merit Financial Group LLC boosted its holdings in Amgen by 39.2% during the first quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock worth $555,000 after buying an additional 647 shares in the last quarter. Ergoteles LLC purchased a new stake in Amgen during the first quarter worth about $219,000. First Western Trust Bank purchased a new stake in Amgen during the first quarter worth about $334,000. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Amgen by 2.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock worth $5,970,000 after buying an additional 513 shares in the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 0.2 %

Shares of AMGN stock traded down $0.37 on Friday, hitting $217.09. The stock had a trading volume of 1,286,062 shares, compared to its average volume of 2,325,555. The firm has a market capitalization of $116.00 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.75 and a beta of 0.64. The stock’s 50 day moving average is $238.03 and its 200-day moving average is $252.92. The company has a debt-to-equity ratio of 11.36, a quick ratio of 2.79 and a current ratio of 3.14. Amgen Inc. has a 52-week low of $214.48 and a 52-week high of $296.67.

Amgen (NASDAQ:AMGN – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The medical research company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.84 by $0.14. The firm had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Amgen had a net margin of 30.23% and a return on equity of 248.47%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.25 earnings per share. As a group, research analysts expect that Amgen Inc. will post 18.12 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Thursday, May 18th will be issued a dividend of $2.13 per share. The ex-dividend date is Wednesday, May 17th. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.92%. Amgen’s dividend payout ratio (DPR) is 57.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. SVB Securities cut their target price on shares of Amgen from $282.00 to $267.00 in a research report on Thursday, February 2nd. StockNews.com assumed coverage on shares of Amgen in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Piper Sandler cut their price objective on shares of Amgen from $293.00 to $288.00 in a research report on Friday, April 28th. Mizuho boosted their price objective on shares of Amgen from $208.00 to $214.00 in a research report on Wednesday, May 3rd. Finally, BMO Capital Markets cut their price objective on shares of Amgen from $276.00 to $253.00 and set a “market perform” rating for the company in a research report on Wednesday, February 1st. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and an average target price of $250.94.

Amgen Company Profile

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.