Abbrea Capital LLC Has $2.49 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Abbrea Capital LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 3.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,639 shares of the medical research company’s stock after acquiring an additional 285 shares during the period. Abbrea Capital LLC’s holdings in Amgen were worth $2,488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Syon Capital LLC boosted its holdings in Amgen by 42.5% during the fourth quarter. Syon Capital LLC now owns 4,947 shares of the medical research company’s stock worth $1,425,000 after buying an additional 1,476 shares during the last quarter. Meritage Portfolio Management boosted its holdings in Amgen by 5.8% during the fourth quarter. Meritage Portfolio Management now owns 27,142 shares of the medical research company’s stock worth $7,817,000 after buying an additional 1,484 shares during the last quarter. Bailard Inc. boosted its holdings in Amgen by 2.7% during the fourth quarter. Bailard Inc. now owns 46,856 shares of the medical research company’s stock worth $13,495,000 after buying an additional 1,243 shares during the last quarter. BIP Wealth LLC boosted its holdings in Amgen by 2.6% during the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after buying an additional 32 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in Amgen by 4.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,685 shares of the medical research company’s stock worth $3,654,000 after buying an additional 554 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. TD Cowen reduced their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $329.00 price objective on shares of Amgen in a report on Wednesday, April 3rd. Finally, Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $296.95.

Amgen Stock Performance

Shares of AMGN stock traded up $0.60 during trading on Friday, reaching $269.98. 2,436,909 shares of the company’s stock were exchanged, compared to its average volume of 2,822,655. 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 capitalization of $144.81 billion, a PE ratio of 21.57, a PEG ratio of 2.54 and a beta of 0.58. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The firm’s fifty day moving average price is $275.38 and its 200-day moving average price is $281.46.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.09 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.33%. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

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.