Adell Harriman & Carpenter Inc. Buys 170 Shares of Amgen Inc. (NASDAQ:AMGN)

Adell Harriman & Carpenter Inc. boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,263 shares of the medical research company’s stock after purchasing an additional 170 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Amgen were worth $4,972,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Greatmark Investment Partners Inc. increased its holdings in Amgen by 0.3% in the 4th quarter. Greatmark Investment Partners Inc. now owns 62,509 shares of the medical research company’s stock worth $18,004,000 after acquiring an additional 205 shares during the last quarter. Naviter Wealth LLC increased its stake in shares of Amgen by 21.8% in the fourth quarter. Naviter Wealth LLC now owns 3,679 shares of the medical research company’s stock worth $1,060,000 after purchasing an additional 659 shares in the last quarter. Investment House LLC lifted its stake in shares of Amgen by 0.5% during the 4th quarter. Investment House LLC now owns 28,405 shares of the medical research company’s stock valued at $8,181,000 after buying an additional 145 shares in the last quarter. Chase Investment Counsel Corp bought a new stake in Amgen during the 4th quarter valued at $386,000. Finally, Choreo LLC grew its position in shares of Amgen by 4.9% in the fourth quarter. Choreo LLC now owns 3,851 shares of the medical research company’s stock valued at $1,109,000 after purchasing an additional 180 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the subject of a number of analyst reports. Raymond James initiated coverage on shares of Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. Oppenheimer restated an “outperform” rating and set a $350.00 price target on shares of Amgen in a research report on Thursday, February 1st. TD Cowen lowered their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. UBS Group reduced their target price on Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $329.00 price target on shares of Amgen in a research report on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $297.40.

Amgen Trading Up 2.4 %

Amgen stock traded up $6.40 during trading hours on Monday, reaching $276.38. The company had a trading volume of 2,676,691 shares, compared to its average volume of 2,820,874. The firm has a market cap of $148.24 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 2.61 and a beta of 0.58. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The company has a 50-day moving average price of $275.10 and a 200 day moving average price of $281.51.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.09 earnings per share. Equities analysts forecast that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.26%. 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.