Amgen Inc. (NASDAQ:AMGN) Shares Bought by Grassi Investment Management

by · The Markets Daily

Grassi Investment Management grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 4.5% during the fourth quarter, Holdings Channel reports. The firm owned 4,600 shares of the medical research company’s stock after acquiring an additional 200 shares during the quarter. Grassi Investment Management’s holdings in Amgen were worth $1,199,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of AMGN. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the 3rd quarter worth about $29,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the 2nd quarter worth about $30,000. Matrix Trust Co acquired a new stake in shares of Amgen in the 3rd quarter worth about $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen in the 3rd quarter worth about $56,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the topic of several research analyst reports. Redburn Partners lowered their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America reissued an “underperform” rating and set a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Finally, Robert W. Baird reissued an “underperform” rating and set a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.91.

Read Our Latest Stock Report on AMGN

Amgen Stock Up 2.7 %

Shares of AMGN stock traded up $7.08 during trading on Monday, hitting $269.31. 1,745,551 shares of the company were exchanged, compared to its average volume of 2,855,401. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm has a market capitalization of $144.76 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 2.91 and a beta of 0.56. The business’s 50-day simple moving average is $279.10 and its 200 day simple moving average is $308.66. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate 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 net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $4.96 earnings per share. As a group, analysts forecast that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed 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 represents a $9.52 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

Amgen Company 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

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