Alpha Cubed Investments LLC Acquires 2,667 Shares of Amgen Inc. (NASDAQ:AMGN)

Alpha Cubed Investments LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,384 shares of the medical research company’s stock after purchasing an additional 2,667 shares during the quarter. Amgen accounts for approximately 2.0% of Alpha Cubed Investments LLC’s portfolio, making the stock its 11th largest position. Alpha Cubed Investments LLC’s holdings in Amgen were worth $36,113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after purchasing an additional 165,636 shares in the last quarter. Northern Trust Corp increased its stake in Amgen by 3.8% during the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after purchasing an additional 255,463 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Amgen by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,437,182 shares of the medical research company’s stock valued at $1,461,297,000 after purchasing an additional 61,528 shares in the last quarter. Royal Bank of Canada increased its stake in Amgen by 11.4% during the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after purchasing an additional 518,689 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Amgen by 15.9% during the 3rd quarter. Invesco Ltd. now owns 3,356,359 shares of the medical research company’s stock valued at $902,055,000 after purchasing an additional 459,340 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AMGN shares. Truist Financial reaffirmed a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $329.00 price objective on shares of Amgen in a report on Wednesday, April 3rd. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. TD Cowen cut their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.40.

Amgen Stock Performance

NASDAQ AMGN traded down $2.44 during trading on Tuesday, hitting $273.94. 2,476,256 shares of the company’s stock traded hands, compared to its average volume of 2,816,730. The stock has a market capitalization of $146.94 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.61 and a beta of 0.58. 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 quick ratio of 1.13 and a current ratio of 1.65. The business has a 50 day moving average of $274.96 and a 200-day moving average of $281.45.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the prior year, the firm earned $4.09 earnings per share. The company’s revenue was up 19.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is presently 72.06%.

Amgen 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.