AM Investment Strategies LLC Grows Stake in Amgen Inc. (NASDAQ:AMGN)

AM Investment Strategies LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 12.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,402 shares of the medical research company’s stock after buying an additional 931 shares during the quarter. Amgen accounts for 0.5% of AM Investment Strategies LLC’s holdings, making the stock its 29th largest holding. AM Investment Strategies LLC’s holdings in Amgen were worth $2,190,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC raised its holdings in Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after buying an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after acquiring an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC lifted its position in Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after acquiring an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after acquiring an additional 676,598 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMGN. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 price target on shares of Amgen in a report on Friday. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Finally, Leerink Partners dropped their price target on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $314.65.

Amgen Price Performance

NASDAQ:AMGN opened at $275.42 on Friday. The stock has a 50 day moving average price of $271.55 and a 200 day moving average price of $306.24. The stock has a market cap of $148.05 billion, a PE ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping 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 business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the firm earned $4.96 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 121.90%.

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.