Grimes & Company Inc. Raises Stock Position in Amgen Inc. (NASDAQ:AMGN)

Grimes & Company Inc. boosted its position in shares of Amgen Inc. (NASDAQ:AMGNFree Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,264 shares of the medical research company’s stock after purchasing an additional 760 shares during the period. Grimes & Company Inc.’s holdings in Amgen were worth $24,048,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen during the 3rd quarter worth approximately $29,000. Hershey Financial Advisers LLC purchased a new stake in Amgen during the 2nd quarter worth approximately $30,000. Matrix Trust Co purchased a new stake in Amgen during the 3rd quarter worth approximately $36,000. Finally, Livelsberger Financial Advisory purchased a new stake in Amgen during the 3rd quarter worth approximately $56,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Barclays upped their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 target price on shares of Amgen in a research note on Friday. Finally, Leerink Partners lowered their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $314.65.

Read Our Latest Analysis on Amgen

Amgen Stock Down 0.9 %

Shares of NASDAQ:AMGN opened at $275.42 on Friday. The stock has a market cap of $148.05 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. The firm has a fifty day moving average price of $271.39 and a 200 day moving average price of $305.99. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGNGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 EPS. Sell-side analysts predict that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is presently 115.24%.

Amgen Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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