Fortitude Family Office LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Fortitude Family Office LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGNFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,641 shares of the medical research company’s stock, valued at approximately $473,000.

Several other hedge funds also recently bought and sold shares of the stock. Roundview Capital LLC boosted its stake in shares of Amgen by 1.3% in the first quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after purchasing an additional 107 shares during the period. Merit Financial Group LLC boosted its stake in shares of Amgen by 39.2% in the first quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock valued at $555,000 after purchasing an additional 647 shares during the period. Ergoteles LLC purchased a new position in shares of Amgen in the first quarter valued at approximately $219,000. First Western Trust Bank purchased a new position in shares of Amgen in the first quarter valued at approximately $334,000. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Amgen by 2.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock valued at $5,970,000 after purchasing an additional 513 shares during the period. Hedge funds and other institutional investors own 74.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Wednesday, November 29th. StockNews.com cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley reduced their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and raised their target price for the company from $264.00 to $320.00 in a report on Thursday, December 21st. Finally, Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $295.30.

Check Out Our Latest Research Report on Amgen

Amgen Stock Performance

NASDAQ:AMGN traded up $3.90 during midday trading on Thursday, reaching $276.95. The stock had a trading volume of 2,489,439 shares, compared to its average volume of 3,077,663. The firm has a fifty day simple moving average of $292.52 and a two-hundred day simple moving average of $279.80. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The stock has a market cap of $148.42 billion, a P/E ratio of 22.17, a P/E/G ratio of 2.55 and a beta of 0.58.

Amgen (NASDAQ:AMGNGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same period last year, the firm posted $4.09 EPS. Amgen’s quarterly revenue was up 19.8% on a year-over-year basis. On average, equities analysts expect that Amgen Inc. will post 19.48 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.25%. Amgen’s payout ratio is currently 72.06%.

Amgen Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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