3,916 Shares in Amgen Inc. (NASDAQ:AMGN) Acquired by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,916 shares of the medical research company’s stock, valued at approximately $1,231,000.

A number of other hedge funds also recently added to or reduced their stakes in AMGN. Beaumont Asset Management L.L.C. raised its stake in Amgen by 3.8% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 1,687 shares of the medical research company’s stock valued at $486,000 after buying an additional 62 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in Amgen by 4.5% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,168 shares of the medical research company’s stock valued at $2,065,000 after buying an additional 307 shares during the last quarter. Masso Torrence Wealth Management Inc. purchased a new stake in Amgen during the 4th quarter valued at $416,000. Community Bank & Trust Waco Texas raised its stake in Amgen by 42.5% during the 4th quarter. Community Bank & Trust Waco Texas now owns 9,959 shares of the medical research company’s stock valued at $2,868,000 after buying an additional 2,968 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Amgen by 15.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,567 shares of the medical research company’s stock worth $1,028,000 after purchasing an additional 480 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of several analyst reports. The Goldman Sachs Group upped their price objective on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. TD Cowen dropped their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Finally, Morgan Stanley dropped their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Trading Up 0.6 %

Amgen stock traded up $1.63 during midday trading on Tuesday, reaching $273.54. The stock had a trading volume of 2,493,074 shares, compared to its average volume of 2,845,341. 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 52-week low of $211.71 and a 52-week high of $329.72. The firm has a market cap of $146.72 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 2.50 and a beta of 0.58. The company has a fifty day moving average of $276.45 and a 200 day moving average of $281.56.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same period in the prior year, the company posted $4.09 EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts anticipate that Amgen Inc. will post 19.45 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 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.