Evolution Advisers Inc. Takes Position in Amgen Inc. (NASDAQ:AMGN)

Evolution Advisers Inc. acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 200 shares of the medical research company’s stock, valued at approximately $59,000.

A number of other institutional investors have also recently bought and sold shares of AMGN. International Assets Investment Management LLC acquired a new position in shares of Amgen in the 4th quarter valued at $4,589,900,000. Assenagon Asset Management S.A. lifted its position in Amgen by 486.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after buying an additional 745,929 shares in the last quarter. abrdn plc raised its holdings in shares of Amgen by 150.4% in the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after purchasing an additional 626,810 shares during the period. Royal Bank of Canada raised its holdings in shares of Amgen by 11.4% in the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after purchasing an additional 518,689 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Amgen by 22.0% in the 4th quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock valued at $782,288,000 after purchasing an additional 490,539 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMGN. Royal Bank of Canada reissued an “outperform” rating and issued a $329.00 price target on shares of Amgen in a report on Wednesday, April 3rd. UBS Group lowered their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Truist Financial reissued a “buy” rating and issued a $320.00 price target on shares of Amgen in a report on Friday, April 12th. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group increased their price target on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $296.95.

Amgen Price Performance

Shares of NASDAQ AMGN traded down $3.63 during trading hours on Thursday, hitting $269.38. 1,792,738 shares of the stock were exchanged, compared to its average volume of 2,827,451. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The company has a market cap of $144.49 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 2.55 and a beta of 0.58. The company’s fifty day simple moving average is $275.38 and its two-hundred day simple moving average is $281.46. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 23.83% and a return on equity of 154.27%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the business posted $4.09 EPS. On average, sell-side analysts predict that Amgen Inc. will post 19.42 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed 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. This represents a $9.00 annualized dividend and a yield of 3.34%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

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.