Strive Asset Management LLC Makes New $652,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Strive Asset Management LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,502 shares of the medical research company’s stock, valued at approximately $652,000.

Other hedge funds have also recently modified their holdings of the company. Capital World Investors grew its stake in Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. Norges Bank purchased a new stake in shares of Amgen during the 4th quarter valued at $1,541,991,000. Capital International Investors lifted its holdings in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Amgen during the 4th quarter valued at $401,913,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMGN. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $310.18.

Amgen Stock Up 0.3%

AMGN stock opened at $272.41 on Friday. The firm has a market cap of $146.48 billion, a PE ratio of 36.08, a PEG ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The firm’s 50 day moving average price is $291.00 and its 200-day moving average price is $288.09. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.96 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is 86.86%.

Insider Buying and Selling at Amgen

In other Amgen news, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares of the company’s stock, valued at $18,222,743.34. The trade was a 12.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is owned by corporate insiders.

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.