M.E. Allison & CO. Inc. Invests $388,000 in Amgen Inc. (NASDAQ:AMGN)

M.E. Allison & CO. Inc. acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,489 shares of the medical research company’s stock, valued at approximately $388,000.

A number of other hedge funds have also recently bought and sold shares of AMGN. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the 3rd quarter worth about $25,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen in the 2nd quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen in the 3rd quarter valued at about $29,000. Matrix Trust Co bought a new position in Amgen during the 3rd quarter worth approximately $36,000. Finally, Livelsberger Financial Advisory bought a new position in Amgen during the 3rd quarter worth approximately $56,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Citigroup decreased their price objective on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Truist Financial reduced their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Bank of America reaffirmed an “underperform” rating and set a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $314.91.

Amgen Stock Up 1.0 %

NASDAQ AMGN opened at $272.11 on Monday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business’s fifty day simple moving average is $273.95 and its 200-day simple moving average is $307.20. The firm has a market cap of $146.27 billion, a PE ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the company posted $4.96 EPS. Amgen’s revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 115.24%.

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.