Oakworth Capital Inc. Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Oakworth Capital Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 101.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,445 shares of the medical research company’s stock after purchasing an additional 728 shares during the period. Oakworth Capital Inc.’s holdings in Amgen were worth $416,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Amgen during the 3rd quarter worth $26,000. Briaud Financial Planning Inc acquired a new stake in shares of Amgen during the third quarter valued at about $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Amgen during the first quarter worth about $28,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Amgen in the fourth quarter worth about $29,000. Finally, Providence Capital Advisors LLC purchased a new position in Amgen in the third quarter valued at about $30,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AMGN shares. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. TD Cowen cut their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and cut their target price for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Finally, Raymond James assumed coverage on Amgen in a research note on Thursday, March 28th. They set a “market perform” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Down 0.6 %

AMGN stock opened at $264.07 on Thursday. The firm has a market cap of $141.52 billion, a PE ratio of 21.14, a P/E/G ratio of 2.47 and a beta of 0.58. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $277.99 and a 200 day simple moving average of $281.37.

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

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.41%. Amgen’s payout ratio is presently 72.06%.

About Amgen

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.