Galvin Gaustad & Stein LLC Raises Stake in Amgen Inc. (NASDAQ:AMGN)

Galvin Gaustad & Stein LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 19.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,288 shares of the medical research company’s stock after buying an additional 380 shares during the period. Galvin Gaustad & Stein LLC’s holdings in Amgen were worth $596,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Public Sector Pension Investment Board raised its stake in Amgen by 74.2% during the second quarter. Public Sector Pension Investment Board now owns 20,647 shares of the medical research company’s stock valued at $6,451,000 after purchasing an additional 8,795 shares in the last quarter. Insigneo Advisory Services LLC increased its position in Amgen by 31.7% during the second quarter. Insigneo Advisory Services LLC now owns 3,864 shares of the medical research company’s stock valued at $1,257,000 after acquiring an additional 930 shares during the last quarter. Wescott Financial Advisory Group LLC bought a new position in Amgen during the second quarter valued at $201,000. Zurich Insurance Group Ltd FI increased its position in Amgen by 591.7% during the second quarter. Zurich Insurance Group Ltd FI now owns 125,886 shares of the medical research company’s stock valued at $39,333,000 after acquiring an additional 107,686 shares during the last quarter. Finally, Fred Alger Management LLC increased its position in Amgen by 128.4% during the second quarter. Fred Alger Management LLC now owns 325,752 shares of the medical research company’s stock valued at $101,781,000 after acquiring an additional 183,151 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 0.1 %

NASDAQ AMGN opened at $273.69 on Thursday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a 50-day moving average of $271.91 and a 200-day moving average of $306.43. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a market cap of $147.12 billion, a P/E ratio of 35.01, a P/E/G ratio of 2.79 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.96 EPS. As a group, equities analysts predict that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is currently 115.24%.

Analyst Ratings Changes

AMGN has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Barclays increased their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $314.91.

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.