Abbrea Capital LLC Acquires 285 Shares of Amgen Inc. (NASDAQ:AMGN)

Abbrea Capital LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,639 shares of the medical research company’s stock after acquiring an additional 285 shares during the quarter. Abbrea Capital LLC’s holdings in Amgen were worth $2,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of AMGN. OFI Invest Asset Management acquired a new position in Amgen during the third quarter valued at approximately $26,000. Briaud Financial Planning Inc acquired a new position in Amgen during the third quarter valued at approximately $26,000. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the fourth quarter valued at approximately $29,000. Providence Capital Advisors LLC acquired a new position in Amgen during the third quarter valued at approximately $30,000. Finally, Planned Solutions Inc. acquired a new position in Amgen during the fourth quarter valued at approximately $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMGN shares. TD Cowen dropped their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley dropped their price objective on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. UBS Group lowered their target price on Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. StockNews.com lowered Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Finally, Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Trading Up 0.2 %

AMGN traded up $0.60 during midday trading on Friday, hitting $269.98. 2,436,909 shares of the company were exchanged, compared to its average volume of 2,822,655. The firm has a market capitalization of $144.81 billion, a P/E ratio of 21.57, a P/E/G ratio of 2.54 and a beta of 0.58. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The firm’s 50 day moving average price is $275.38 and its 200-day moving average price is $281.46. 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, topping the consensus estimate of $4.66 by $0.05. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.09 EPS. As a group, equities analysts forecast that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, May 16th. 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.