Financial Management Professionals Inc. Increases Position in Amgen Inc. (NASDAQ:AMGN)

Financial Management Professionals Inc. boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,430 shares of the medical research company’s stock after acquiring an additional 87 shares during the period. Financial Management Professionals Inc.’s holdings in Amgen were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Ameritas Advisory Services LLC raised its stake in Amgen by 62.0% in the fourth quarter. Ameritas Advisory Services LLC now owns 10,550 shares of the medical research company’s stock valued at $2,750,000 after buying an additional 4,038 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Amgen by 4.2% in the 4th quarter. HB Wealth Management LLC now owns 43,854 shares of the medical research company’s stock valued at $11,430,000 after purchasing an additional 1,768 shares during the last quarter. Sanibel Captiva Trust Company Inc. boosted its stake in Amgen by 0.7% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 80,892 shares of the medical research company’s stock worth $21,084,000 after purchasing an additional 588 shares in the last quarter. Howard Financial Services LTD. boosted its stake in Amgen by 32.5% in the 4th quarter. Howard Financial Services LTD. now owns 2,780 shares of the medical research company’s stock worth $725,000 after purchasing an additional 682 shares in the last quarter. Finally, Alhambra Investment Management LLC grew its position in Amgen by 6.9% during the 4th quarter. Alhambra Investment Management LLC now owns 3,825 shares of the medical research company’s stock worth $997,000 after purchasing an additional 246 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.0 %

Shares of AMGN stock opened at $272.11 on Friday. The stock’s fifty day moving average is $273.95 and its two-hundred day moving average is $307.22. The firm has a market capitalization of $146.27 billion, a P/E ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the business earned $4.96 earnings per share. The business’s revenue was up 23.2% compared to the same quarter last year. Research analysts expect that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 115.24%.

Analysts Set New Price Targets

AMGN has been the subject of a number of research analyst reports. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. UBS Group cut their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Royal Bank of Canada dropped their target price on Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Two research 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. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and an average price target of $314.91.

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.