Clearstead Trust LLC Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Clearstead Trust LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 129.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,240 shares of the medical research company’s stock after buying an additional 700 shares during the period. Clearstead Trust LLC’s holdings in Amgen were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Amgen during the third quarter worth approximately $26,000. Briaud Financial Planning Inc acquired a new stake in shares of Amgen in the 3rd quarter valued at $26,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amgen during the 4th quarter worth $29,000. Providence Capital Advisors LLC acquired a new position in shares of Amgen during the third quarter worth $30,000. Finally, Planned Solutions Inc. purchased a new position in Amgen in the fourth quarter valued at $30,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Amgen stock traded up $32.90 during midday trading on Friday, reaching $311.29. 9,644,682 shares of the company were exchanged, compared to its average volume of 2,279,398. The company has a market capitalization of $166.97 billion, a price-to-earnings ratio of 44.47, a P/E/G ratio of 3.01 and a beta of 0.60. The firm’s 50-day simple moving average is $274.95 and its 200-day simple moving average is $281.46. Amgen Inc. has a 1 year low of $211.71 and a 1 year 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.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $7.45 billion. During the same period last year, the company earned $3.98 earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. On average, analysts anticipate that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Dividend Announcement

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

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMGN. Royal Bank of Canada lowered their target price on shares of Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a report on Friday. Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. Morgan Stanley raised their price target on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday. Finally, The Goldman Sachs Group raised their target price 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 analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.05.

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.