Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Addison Advisors LLC

Addison Advisors LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 127.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,176 shares of the medical research company’s stock after buying an additional 659 shares during the period. Addison Advisors LLC’s holdings in Amgen were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Gilliland Jeter Wealth Management LLC purchased a new position in Amgen during the fourth quarter worth about $421,000. Citizens Financial Group Inc. RI increased its holdings in shares of Amgen by 8.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 11,943 shares of the medical research company’s stock worth $3,440,000 after buying an additional 943 shares during the last quarter. KFA Private Wealth Group LLC increased its holdings in shares of Amgen by 7.2% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,428 shares of the medical research company’s stock worth $411,000 after buying an additional 96 shares during the last quarter. Kovack Advisors Inc. increased its holdings in shares of Amgen by 5.0% during the 4th quarter. Kovack Advisors Inc. now owns 2,983 shares of the medical research company’s stock worth $859,000 after buying an additional 141 shares during the last quarter. Finally, Callan Capital LLC increased its holdings in shares of Amgen by 5.8% during the 4th quarter. Callan Capital LLC now owns 2,506 shares of the medical research company’s stock worth $722,000 after buying an additional 137 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Up 0.2 %

Shares of Amgen stock traded up $0.60 during trading on Friday, hitting $269.98. 2,436,959 shares of the stock were exchanged, compared to its average volume of 2,035,139. The stock has a market cap of $144.81 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 2.60 and a beta of 0.58. The firm’s 50-day moving average price is $275.10 and its 200 day moving average price is $281.45. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. 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 (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 during the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the previous year, the company earned $4.09 earnings per share. Amgen’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, analysts forecast that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced 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 3.33%. Amgen’s payout ratio is 72.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMGN. Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Raymond James began coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley dropped their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $296.95.

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.