Amgen Inc. (NASDAQ:AMGN) Stock Position Lifted by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,788 shares of the medical research company’s stock after purchasing an additional 200 shares during the period. Amgen comprises approximately 1.5% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 22nd largest position. Groesbeck Investment Management Corp NJ’s holdings in Amgen were worth $1,091,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Livforsakringsbolaget Skandia Omsesidigt grew its position in Amgen by 1.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 34,764 shares of the medical research company’s stock worth $10,013,000 after acquiring an additional 568 shares in the last quarter. Stone House Investment Management LLC grew its position in Amgen by 553.1% in the fourth quarter. Stone House Investment Management LLC now owns 209 shares of the medical research company’s stock worth $60,000 after acquiring an additional 177 shares in the last quarter. Oakworth Capital Inc. grew its position in Amgen by 101.5% in the fourth quarter. Oakworth Capital Inc. now owns 1,445 shares of the medical research company’s stock worth $416,000 after acquiring an additional 728 shares in the last quarter. Guidance Capital Inc. grew its position in Amgen by 14.2% in the fourth quarter. Guidance Capital Inc. now owns 5,139 shares of the medical research company’s stock worth $1,528,000 after acquiring an additional 638 shares in the last quarter. Finally, TRUE Private Wealth Advisors increased its holdings in Amgen by 38.5% in the 4th quarter. TRUE Private Wealth Advisors now owns 2,567 shares of the medical research company’s stock valued at $739,000 after buying an additional 714 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered 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 lowered their target price on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a report on Wednesday. The Goldman Sachs Group upped their target price on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Finally, Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and upped their target price for the stock from $264.00 to $320.00 in a report on Thursday, December 21st. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $296.95.

Amgen Trading Up 0.2 %

Amgen stock traded up $0.47 during trading hours on Thursday, reaching $264.54. 500,576 shares of the company’s stock traded hands, compared to its average volume of 2,830,421. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The firm has a market capitalization of $141.77 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.47 and a beta of 0.58. The firm’s 50 day moving average is $277.99 and its 200-day moving average is $281.37.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the prior year, the company posted $4.09 EPS. The company’s revenue was up 19.8% compared to the same quarter last year. On average, analysts predict that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.40%. Amgen’s payout ratio is presently 72.06%.

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.