Brighton Jones LLC Buys 786 Shares of Amgen Inc. (NASDAQ:AMGN)

Brighton Jones LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,476 shares of the medical research company’s stock after acquiring an additional 786 shares during the period. Brighton Jones LLC’s holdings in Amgen were worth $6,762,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in shares of Amgen during the third quarter worth about $26,000. Briaud Financial Planning Inc bought a new position in shares of Amgen during the 3rd quarter worth approximately $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 bought a new stake in shares of Amgen in the third quarter worth $30,000. Finally, Planned Solutions Inc. acquired a new position in Amgen during the fourth quarter worth $30,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several analyst reports. UBS Group cut their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. StockNews.com cut Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $329.00 target price on shares of Amgen in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group upped their price target on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $297.40.

Amgen Price Performance

AMGN stock traded down $2.44 during midday trading on Tuesday, reaching $273.94. The company had a trading volume of 2,476,256 shares, compared to its average volume of 2,816,730. The company has a market capitalization of $146.94 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58. 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 Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The stock has a 50 day moving average price of $274.96 and a 200-day moving average price of $281.45.

Amgen (NASDAQ:AMGN) last announced 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 during the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the previous year, the business earned $4.09 earnings per share. The company’s revenue was up 19.8% on a year-over-year basis. Equities research analysts expect that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders 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 yield of 3.29%. Amgen’s payout ratio is presently 72.06%.

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.