Custom Index Systems LLC Purchases New Position in Amgen Inc. (NASDAQ:AMGN)

Custom Index Systems LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,050 shares of the medical research company’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in Amgen in the 3rd quarter valued at $29,000. Matrix Trust Co acquired a new position in Amgen in the third quarter worth $36,000. Heck Capital Advisors LLC bought a new stake in shares of Amgen during the fourth quarter worth $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen in the third quarter valued at $56,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of several research reports. Barclays upped their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. UBS Group lowered their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Redburn Partners reduced their price objective on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Citigroup lowered their target price on Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $314.00.

Amgen Trading Up 0.5 %

NASDAQ:AMGN opened at $285.42 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The stock has a market capitalization of $153.42 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.85 and a beta of 0.56. The business’s 50-day simple moving average is $271.06 and its 200-day simple moving average is $304.53.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the company posted $4.96 EPS. Sell-side analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.34%. Amgen’s dividend payout ratio is presently 115.24%.

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.