TCG Advisory Services LLC Buys New Position in Amgen Inc. (NASDAQ:AMGN)

TCG Advisory Services LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,952 shares of the medical research company’s stock, valued at approximately $562,000.

Several other institutional investors have also added to or reduced their stakes in AMGN. Briaud Financial Planning Inc bought a new stake in Amgen during the 3rd quarter worth approximately $26,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen during the 4th quarter valued at $29,000. OFI Invest Asset Management purchased a new position in shares of Amgen during the 3rd quarter valued at $26,000. Planned Solutions Inc. bought a new position in Amgen in the 4th quarter worth $30,000. Finally, Providence Capital Advisors LLC purchased a new stake in Amgen in the 3rd quarter worth $30,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $350.00 price target on shares of Amgen in a report on Thursday, February 1st. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $305.05.

Amgen Trading Up 11.8 %

NASDAQ:AMGN traded up $32.90 during midday trading on Friday, hitting $311.29. 9,644,682 shares of the company traded hands, compared to its average volume of 2,279,398. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The firm’s fifty day moving average is $274.95 and its 200-day moving average is $281.46. The firm has a market capitalization of $166.97 billion, a P/E ratio of 44.47, a P/E/G ratio of 3.01 and a beta of 0.60. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 145.62%. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the prior year, the firm posted $3.98 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, sell-side analysts predict that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

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.