Grant GrossMendelsohn LLC Invests $214,000 in Amgen Inc. (NASDAQ:AMGN)

Grant GrossMendelsohn LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 686 shares of the medical research company’s stock, valued at approximately $214,000.

Several other large investors have also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in Amgen in the third quarter valued at about $26,000. Briaud Financial Planning Inc purchased a new position in Amgen in the third quarter valued at about $26,000. Strategic Investment Solutions Inc. IL purchased a new position in Amgen in the first quarter valued at about $28,000. BOK Financial Private Wealth Inc. purchased a new position in Amgen in the fourth quarter valued at about $29,000. Finally, Providence Capital Advisors LLC bought a new stake in shares of Amgen during the 3rd quarter worth about $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. Morgan Stanley decreased their price target on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Daiwa Capital Markets upgraded Amgen from a “neutral” rating to a “buy” rating and upped their price target for the stock from $264.00 to $320.00 in a research note on Thursday, December 21st. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Raymond James began coverage on Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. Finally, StockNews.com downgraded Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus target price of $295.30.

Amgen Price Performance

Shares of AMGN traded down $1.77 during mid-day trading on Monday, reaching $265.51. The company had a trading volume of 1,731,820 shares, compared to its average volume of 2,883,643. Amgen Inc. has a twelve month low of $211.71 and a twelve 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’s 50-day moving average is $280.76 and its 200-day moving average is $281.55. The company has a market capitalization of $142.29 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.53 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $8.13 billion. During the same period in the prior year, the firm posted $4.09 EPS. Amgen’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.39%. Amgen’s dividend payout ratio is 72.06%.

Amgen Company Profile

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.