Traynor Capital Management Inc. Buys 213 Shares of Amgen Inc. (NASDAQ:AMGN)

Traynor Capital Management Inc. boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 32.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 861 shares of the medical research company’s stock after acquiring an additional 213 shares during the period. Traynor Capital Management Inc.’s holdings in Amgen were worth $224,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Insigneo Advisory Services LLC lifted its position in Amgen by 31.7% in the second quarter. Insigneo Advisory Services LLC now owns 3,864 shares of the medical research company’s stock worth $1,257,000 after purchasing an additional 930 shares during the period. APG Asset Management US Inc. lifted its holdings in shares of Amgen by 2.2% during the 2nd quarter. APG Asset Management US Inc. now owns 158,539 shares of the medical research company’s stock worth $49,307,000 after acquiring an additional 3,450 shares during the period. APG Asset Management N.V. boosted its position in shares of Amgen by 11.8% during the 2nd quarter. APG Asset Management N.V. now owns 629,733 shares of the medical research company’s stock valued at $183,588,000 after acquiring an additional 66,416 shares in the last quarter. Drucker Wealth 3.0 LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at about $3,167,000. Finally, Delta Investment Management LLC raised its position in Amgen by 3.3% in the second quarter. Delta Investment Management LLC now owns 1,903 shares of the medical research company’s stock worth $595,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $277.88 on Friday. 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 1-year low of $253.30 and a 1-year high of $346.85. The stock has a market capitalization of $149.37 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.79 and a beta of 0.56. The business has a 50-day moving average price of $271.91 and a two-hundred day moving average price of $306.43.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.96 earnings per share. Equities analysts predict that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.43%. Amgen’s payout ratio is 115.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMGN shares. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Wolfe Research started coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. TD Cowen upped their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Piper Sandler dropped their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Hold” and an average price target of $314.91.

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.