Meadow Creek Wealth Advisors LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Meadow Creek Wealth Advisors LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,854 shares of the medical research company’s stock, valued at approximately $534,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. OFI Invest Asset Management acquired a new position in shares of Amgen during the third quarter worth about $26,000. Briaud Financial Planning Inc acquired a new position in Amgen in the third quarter valued at approximately $26,000. VisionPoint Advisory Group LLC acquired a new position in Amgen in the second quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Amgen in the first quarter valued at approximately $28,000. Finally, Providence Capital Advisors LLC acquired a new position in Amgen in the third quarter valued at approximately $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of AMGN stock traded down $1.98 during mid-day trading on Thursday, reaching $284.32. The stock had a trading volume of 2,288,855 shares, compared to its average volume of 3,040,904. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a market cap of $152.37 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 2.66 and a beta of 0.58. The business has a 50-day simple moving average of $290.09 and a 200 day simple moving average of $280.70. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share 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 business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter last year, the business posted $4.09 earnings per share. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMGN shares. Oppenheimer reissued an “outperform” rating and issued a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. BMO Capital Markets upgraded Amgen from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $286.00 to $326.00 in a research note on Tuesday, December 19th. Raymond James started coverage on Amgen in a research note on Thursday. They set a “market perform” rating for the company. Daiwa Capital Markets upgraded Amgen from a “neutral” rating to a “buy” rating and upped their price target for the stock from $264.00 to $320.00 in a research note on Thursday, December 21st. Finally, The Goldman Sachs Group upped their price target on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $295.30.

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.