Cullen Investment Group LTD. Purchases Shares of 8,689 Amgen Inc. (NASDAQ:AMGN)

Cullen Investment Group LTD. purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,689 shares of the medical research company’s stock, valued at approximately $2,503,000.

A number of other hedge funds have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. purchased a new position in Amgen during the 4th quarter worth $29,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Amgen by 1.2% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 11,515 shares of the medical research company’s stock worth $3,317,000 after acquiring an additional 141 shares during the last quarter. Carnegie Capital Asset Management LLC boosted its holdings in shares of Amgen by 4.7% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 87,053 shares of the medical research company’s stock worth $25,073,000 after buying an additional 3,893 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Amgen by 13.7% in the 4th quarter. Vontobel Holding Ltd. now owns 265,752 shares of the medical research company’s stock worth $76,542,000 after buying an additional 32,085 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Amgen by 2.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,258 shares of the medical research company’s stock worth $363,000 after buying an additional 36 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Down 0.0 %

Shares of NASDAQ:AMGN traded down $0.06 during trading on Monday, reaching $267.22. 266,925 shares of the company traded hands, compared to its average volume of 2,862,706. Amgen Inc. has a 52-week low of $211.71 and a 52-week 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. The business’s fifty day moving average is $280.76 and its 200-day moving average is $281.55. The firm has a market capitalization of $143.21 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 2.53 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same period last year, the company earned $4.09 EPS. Amgen’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given 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 3.37%. Amgen’s payout ratio is currently 72.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $264.00 to $320.00 in a report on Thursday, December 21st. Morgan Stanley cut their price target on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. UBS Group dropped their price objective on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Finally, BMO Capital Markets raised shares of Amgen from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $286.00 to $326.00 in a report on Tuesday, December 19th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $295.30.

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.