State of New Jersey Common Pension Fund D Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

State of New Jersey Common Pension Fund D boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 304,259 shares of the medical research company’s stock after buying an additional 642 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Amgen were worth $87,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AMGN. BIP Wealth LLC lifted its holdings in shares of 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 purchasing an additional 32 shares during the period. Southland Equity Partners LLC boosted its position in shares of Amgen by 2.3% during the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after buying an additional 34 shares during the period. Acropolis Investment Management LLC boosted its holdings in shares of Amgen by 3.5% in the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 34 shares in the last quarter. Opal Wealth Advisors LLC raised its holdings in shares of Amgen by 1.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after acquiring an additional 34 shares during the last quarter. Finally, Marino Stram & Associates LLC grew its position in shares of Amgen by 0.7% during the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after purchasing an additional 34 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and issued a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. Raymond James began coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. UBS Group decreased their price target on Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $296.95.

Amgen Price Performance

Shares of AMGN stock traded up $0.60 during trading hours on Friday, hitting $269.98. 2,436,947 shares of the company’s stock were exchanged, compared to its average volume of 2,822,655. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The stock has a market cap of $144.81 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 2.54 and a beta of 0.58. The stock’s 50-day moving average is $275.38 and its 200-day moving average is $281.46.

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

Amgen Announces Dividend

The business 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. This represents a $9.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio 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.