EdgeRock Capital LLC Takes $107,000 Position in Amgen Inc. (NASDAQ:AMGN)

EdgeRock Capital LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, Holdings Channel reports. The firm bought 371 shares of the medical research company’s stock, valued at approximately $107,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. OFI Invest Asset Management purchased a new position in Amgen in the third quarter worth $26,000. Briaud Financial Planning Inc purchased a new stake in shares of Amgen in the 3rd quarter worth about $26,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen in the fourth quarter valued at approximately $29,000. Providence Capital Advisors LLC purchased a new position in Amgen during the third quarter worth $30,000. Finally, Planned Solutions Inc. purchased a new stake in Amgen during the 4th quarter worth about $30,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by insiders.

Amgen Stock Up 0.3 %

NASDAQ AMGN traded up $0.82 on Tuesday, reaching $300.30. The company had a trading volume of 2,452,073 shares, compared to its average volume of 2,910,303. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The company’s fifty day moving average is $275.65 and its 200-day moving average is $281.74. The firm has a market capitalization of $161.07 billion, a price-to-earnings ratio of 42.90, a price-to-earnings-growth ratio of 3.00 and a beta of 0.60. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the firm earned $3.98 earnings per share. On average, research analysts forecast that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.00%. Amgen’s dividend payout ratio is 128.57%.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMGN shares. BMO Capital Markets upped their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday. Raymond James assumed coverage on Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. Royal Bank of Canada reduced their target price on Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a report on Friday. Oppenheimer reiterated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research note on Thursday, February 1st. Finally, William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $305.05.

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.