Saxon Interests Inc. Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Saxon Interests Inc. bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, Holdings Channel.com reports. The fund bought 1,652 shares of the medical research company’s stock, valued at approximately $476,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. OFI Invest Asset Management purchased a new stake in shares of Amgen during the 3rd quarter worth approximately $26,000. Briaud Financial Planning Inc purchased a new stake in shares of Amgen during the 3rd quarter worth approximately $26,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Amgen during the 1st quarter worth approximately $28,000. Finally, Providence Capital Advisors LLC purchased a new stake in Amgen in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AMGN shares. Oppenheimer reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. UBS Group lowered their price target on Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a report on Monday, January 29th. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Daiwa Capital Markets upgraded Amgen from a “neutral” rating to a “buy” rating and raised their target price for the company from $264.00 to $320.00 in a research note on Thursday, December 21st. Finally, SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $295.30.

Amgen Stock Down 0.7 %

Shares of NASDAQ:AMGN traded down $1.98 during trading on Friday, reaching $284.32. 2,289,919 shares of the company traded hands, compared to its average volume of 3,134,154. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The firm has a fifty day simple moving average of $290.09 and a 200 day simple moving average of $280.70. The firm has a market cap of $152.37 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 2.70 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the previous year, the business earned $4.09 EPS. Amgen’s quarterly revenue was up 19.8% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, May 16th. 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.