Amgen Inc. (NASDAQ:AMGN) Shares Purchased by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 38.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,567 shares of the medical research company’s stock after buying an additional 714 shares during the period. TRUE Private Wealth Advisors’ holdings in Amgen were worth $739,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Roundview Capital LLC raised its position in shares of Amgen by 1.3% in the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after purchasing an additional 107 shares in the last quarter. Merit Financial Group LLC raised its position in shares of Amgen by 39.2% in the 1st quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock valued at $555,000 after purchasing an additional 647 shares in the last quarter. Ergoteles LLC acquired a new position in shares of Amgen in the 1st quarter valued at approximately $219,000. First Western Trust Bank acquired a new stake in shares of Amgen during the 1st quarter valued at approximately $334,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Amgen by 2.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock valued at $5,970,000 after acquiring an additional 513 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Down 0.6 %

Shares of AMGN stock opened at $264.07 on Thursday. The stock has a 50-day simple moving average of $277.99 and a 200 day simple moving average of $281.37. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The stock has a market capitalization of $141.52 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.47 and a beta of 0.58. 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 (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the prior year, the business posted $4.09 earnings per share. Amgen’s revenue was up 19.8% compared to the same quarter last year. On average, sell-side analysts expect that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMGN. Royal Bank of Canada reissued an “outperform” rating and set a $329.00 price target on shares of Amgen in a research report on Wednesday, April 3rd. UBS Group dropped their price target on Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research report on Wednesday. The Goldman Sachs Group upped their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. StockNews.com lowered Amgen from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Amgen in a research report on Thursday, February 1st. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $296.95.

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.