Amgen Inc. (NASDAQ:AMGN) Shares Acquired by FCG Investment Co

FCG Investment Co raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,267 shares of the medical research company’s stock after buying an additional 154 shares during the period. FCG Investment Co’s holdings in Amgen were worth $330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after acquiring an additional 345,537 shares during the period. Geode Capital Management LLC boosted its stake in Amgen by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amgen by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after purchasing an additional 251,876 shares during the period. Janus Henderson Group PLC raised its stake in shares of Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after buying an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America reaffirmed an “underperform” rating and set a $256.00 target price on shares of Amgen in a report on Tuesday, December 10th. Wolfe Research initiated coverage on shares of Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Truist Financial reduced their target price 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. Piper Sandler dropped their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $314.91.

Amgen Trading Up 1.6 %

Amgen stock opened at $277.88 on Friday. 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 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 $271.91 and its 200-day simple moving average is $306.43. The stock has a market cap of $149.37 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.79 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.43%. Amgen’s payout ratio is 115.24%.

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.