TT International Asset Management LTD Purchases Shares of 3,649 Amgen Inc. (NASDAQ:AMGN)

TT International Asset Management LTD purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,649 shares of the medical research company’s stock, valued at approximately $951,000.

A number of other hedge funds have also recently bought and sold shares of AMGN. Parallel Advisors LLC boosted its holdings in Amgen by 0.8% in the 2nd quarter. Parallel Advisors LLC now owns 9,210 shares of the medical research company’s stock valued at $2,878,000 after purchasing an additional 70 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Amgen by 8.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,408,785 shares of the medical research company’s stock valued at $440,175,000 after purchasing an additional 107,134 shares during the last quarter. Seven Mile Advisory lifted its holdings in Amgen by 15.3% during the 2nd quarter. Seven Mile Advisory now owns 852 shares of the medical research company’s stock valued at $266,000 after purchasing an additional 113 shares during the last quarter. Hanson & Doremus Investment Management lifted its holdings in Amgen by 3.6% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,592 shares of the medical research company’s stock valued at $497,000 after purchasing an additional 55 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Amgen by 49.4% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 38,677 shares of the medical research company’s stock valued at $12,085,000 after purchasing an additional 12,784 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of AMGN stock opened at $262.23 on Monday. The firm has a market cap of $140.96 billion, a PE ratio of 33.58, a P/E/G ratio of 2.91 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company’s fifty day simple moving average is $279.10 and its 200-day simple moving average is $308.66. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the company posted $4.96 earnings per share. Amgen’s revenue was up 23.2% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.63%. Amgen’s dividend payout ratio is 121.90%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMGN. Truist Financial cut their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada lowered their price objective on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Wolfe Research began coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Finally, Barclays raised their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $314.91.

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.