Lavaca Capital LLC Purchases 748 Shares of Amgen Inc. (NASDAQ:AMGN)

Lavaca Capital LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 83.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,648 shares of the medical research company’s stock after buying an additional 748 shares during the quarter. Lavaca Capital LLC’s holdings in Amgen were worth $379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AMGN. Advisory Alpha LLC purchased a new position in Amgen during the 3rd quarter valued at $25,000. JFG Wealth Management LLC bought a new stake in shares of Amgen during the third quarter worth $28,000. Norway Savings Bank purchased a new stake in shares of Amgen during the fourth quarter valued at $29,000. Baron Financial Group LLC bought a new position in shares of Amgen in the third quarter worth about $51,000. Finally, Paces Ferry Wealth Advisors LLC purchased a new position in Amgen in the 3rd quarter worth about $52,000. Hedge funds and other institutional investors own 75.23% of the company’s stock.

In other Amgen news, Director R Sanders Williams sold 250 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $242.40, for a total value of $60,600.00. Following the completion of the transaction, the director now owns 4,909 shares of the company’s stock, valued at $1,189,941.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.36% of the company’s stock.

Several equities research analysts have issued reports on the stock. Bank of America lowered their price objective on shares of Amgen from $275.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. ValuEngine cut Amgen from a “hold” rating to a “sell” rating in a research note on Thursday, October 8th. Raymond James upgraded Amgen from a “market perform” rating to an “outperform” rating and set a $255.00 price objective on the stock in a report on Monday, October 26th. Mizuho lowered their target price on Amgen from $260.00 to $215.00 and set a “neutral” rating for the company in a report on Monday, November 2nd. Finally, UBS Group initiated coverage on Amgen in a research note on Wednesday, October 28th. They set a “neutral” rating and a $232.00 price target on the stock. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Amgen currently has a consensus rating of “Hold” and an average price target of $254.92.

NASDAQ:AMGN traded up $1.15 during mid-day trading on Wednesday, hitting $237.74. 1,377,391 shares of the company’s stock traded hands, compared to its average volume of 2,535,096. The company has a fifty day moving average of $228.26 and a 200 day moving average of $238.46. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.88 and a current ratio of 2.28. Amgen Inc. has a twelve month low of $177.05 and a twelve month high of $264.97. The company has a market capitalization of $138.40 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.85 and a beta of 0.76.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Monday, November 2nd. The medical research company reported $4.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.75 by $0.62. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.38 billion. Amgen had a return on equity of 95.55% and a net margin of 29.42%. On average, research analysts expect that Amgen Inc. will post 16.15 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 8th. Shareholders of record on Monday, February 15th will be paid a dividend of $1.76 per share. This is a positive change from Amgen’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $7.04 dividend on an annualized basis and a yield of 2.96%. Amgen’s dividend payout ratio is presently 43.18%.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.

Further Reading: What does an outperform rating mean?

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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