ORG Partners LLC Grows Stake in Amgen Inc. (NASDAQ:AMGN)

ORG Partners LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,975 shares of the medical research company’s stock after buying an additional 41 shares during the quarter. ORG Partners LLC’s holdings in Amgen were worth $2,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in Amgen during the 3rd quarter worth about $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen during the second quarter valued at approximately $26,000. Legacy Investment Solutions LLC bought a new position in Amgen in the third quarter worth approximately $29,000. Hershey Financial Advisers LLC purchased a new stake in Amgen during the second quarter worth $30,000. Finally, Matrix Trust Co purchased a new stake in Amgen during the third quarter worth $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of Amgen stock traded down $1.43 during trading hours on Friday, reaching $262.78. The stock had a trading volume of 445,615 shares, compared to its average volume of 2,663,323. The stock’s 50 day moving average is $280.24 and its 200 day moving average is $309.15. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a market capitalization of $141.25 billion, a PE ratio of 33.65, a PEG ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.96 EPS. Equities analysts expect that Amgen Inc. will post 19.53 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. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.62%. Amgen’s dividend payout ratio (DPR) is 121.90%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of analyst reports. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. UBS Group lowered their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Piper Sandler reduced their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price target on shares of Amgen in a research report 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $314.91.

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.