Gradient Investments LLC Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Gradient Investments LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 22.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,505 shares of the medical research company’s stock after buying an additional 9,095 shares during the period. Gradient Investments LLC’s holdings in Amgen were worth $12,903,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in Amgen during the third quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in Amgen in the 3rd quarter worth approximately $29,000. Hershey Financial Advisers LLC bought a new position in Amgen during the second quarter valued at approximately $30,000. Matrix Trust Co bought a new position in shares of Amgen in the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Amgen in the 3rd quarter worth $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.9 %

NASDAQ AMGN opened at $275.42 on Friday. The stock has a market cap of $148.05 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock’s fifty day moving average price is $271.55 and its 200-day moving average price is $306.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

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

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date 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 dividend yield of 3.46%. Amgen’s dividend payout ratio is currently 121.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Leerink Partners dropped their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Barclays boosted their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Wolfe Research initiated coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Citigroup reduced their price target on shares of Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $314.65.

Amgen 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.