Foundations Investment Advisors LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Foundations Investment Advisors LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 35.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,616 shares of the medical research company’s stock after purchasing an additional 5,960 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Amgen were worth $5,895,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the third quarter worth $25,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the 2nd quarter worth $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the third quarter valued at about $29,000. Matrix Trust Co purchased a new stake in shares of Amgen in the 3rd quarter worth approximately $36,000. Finally, Livelsberger Financial Advisory purchased a new position in Amgen during the third quarter valued at approximately $56,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMGN. Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. UBS Group decreased their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $314.65.

Amgen Price Performance

AMGN stock opened at $282.95 on Tuesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market capitalization of $152.09 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business has a 50 day simple moving average of $271.39 and a 200-day simple moving average of $305.81.

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

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is presently 115.24%.

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.