Traynor Capital Management Inc. Acquires 1,650 Shares of Amgen Inc. (NASDAQ:AMGN)

Traynor Capital Management Inc. lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 9.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 18,941 shares of the medical research company’s stock after purchasing an additional 1,650 shares during the quarter. Traynor Capital Management Inc.’s holdings in Amgen were worth $5,455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Roundview Capital LLC increased its position in shares of Amgen by 1.3% during the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock worth $2,027,000 after purchasing an additional 107 shares in the last quarter. Merit Financial Group LLC increased its position in Amgen by 39.2% in the 1st quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock valued at $555,000 after acquiring an additional 647 shares in the last quarter. Ergoteles LLC acquired a new stake in Amgen in the 1st quarter valued at about $219,000. First Western Trust Bank acquired a new stake in Amgen in the 1st quarter valued at about $334,000. Finally, Fuller & Thaler Asset Management Inc. increased its position in Amgen by 2.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock valued at $5,970,000 after acquiring an additional 513 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 0.7 %

AMGN traded down $1.98 during trading on Thursday, reaching $284.32. The company had a trading volume of 2,288,855 shares, compared to its average volume of 3,040,904. 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 12 month low of $211.71 and a 12 month high of $329.72. The business’s fifty day moving average price is $290.09 and its 200 day moving average price is $280.70. The company has a market cap of $152.37 billion, a P/E ratio of 22.76, a PEG ratio of 2.66 and a beta of 0.58.

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 net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the previous year, the firm posted $4.09 earnings per share. The business’s revenue was up 19.8% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have weighed in on AMGN shares. UBS Group lowered their price objective on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a research report on Monday, January 29th. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and raised their target price for the company from $264.00 to $320.00 in a research note on Thursday, December 21st. Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Wednesday, November 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average price target of $295.30.

Amgen Company 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.