Hoxton Planning & Management LLC Makes New $201,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Hoxton Planning & Management LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 699 shares of the medical research company’s stock, valued at approximately $201,000.

Several other hedge funds have also recently modified their holdings of the company. Dakota Wealth Management lifted its position in shares of Amgen by 8.3% during the 4th quarter. Dakota Wealth Management now owns 29,140 shares of the medical research company’s stock worth $8,393,000 after buying an additional 2,245 shares in the last quarter. Cullen Investment Group LTD. bought a new position in shares of Amgen during the 4th quarter worth approximately $2,503,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amgen during the 4th quarter worth approximately $29,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of 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 purchasing an additional 141 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC grew its stake in 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 valued at $25,073,000 after buying an additional 3,893 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research note on Friday. Daiwa Capital Markets upgraded shares of Amgen from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $264.00 to $320.00 in a research note on Thursday, December 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $329.00 price target on shares of Amgen in a report on Wednesday, April 3rd. The Goldman Sachs Group raised their price target on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Raymond James assumed coverage on shares of Amgen in a report on Thursday, March 28th. They issued a “market perform” rating for the company. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus price target of $295.30.

Amgen Stock Performance

Amgen stock opened at $265.51 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The company has a market capitalization of $142.29 billion, a PE ratio of 21.26, a P/E/G ratio of 2.53 and a beta of 0.58. The firm has a fifty day simple moving average of $279.63 and a two-hundred day simple moving average of $281.52. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72.

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

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.39%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is presently 72.06%.

Amgen 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.