Advisors Capital Management LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 24.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,732 shares of the medical research company’s stock after purchasing an additional 534 shares during the period. Advisors Capital Management LLC’s holdings in Amgen were worth $661,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Tanglewood Legacy Advisors LLC purchased a new stake in shares of Amgen during the fourth quarter worth about $26,000. Ruedi Wealth Management Inc. purchased a new stake in shares of Amgen during the fourth quarter worth about $27,000. GW&K Investment Management LLC lifted its holdings in Amgen by 200.0% in the fourth quarter. GW&K Investment Management LLC now owns 120 shares of the medical research company’s stock worth $32,000 after buying an additional 80 shares during the period. AXS Investments LLC purchased a new stake in Amgen in the fourth quarter worth about $33,000. Finally, General Partner Inc. bought a new stake in shares of Amgen during the first quarter valued at approximately $32,000. 74.70% of the stock is currently owned by hedge funds and other institutional investors.
Amgen Trading Down 0.7 %
Shares of Amgen stock opened at $230.41 on Thursday. The company has a market capitalization of $123.11 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.91 and a beta of 0.63. The company has a debt-to-equity ratio of 11.36, a quick ratio of 2.79 and a current ratio of 3.14. The company has a fifty day moving average of $225.66 and a 200 day moving average of $235.47. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $296.67.
Amgen Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be given a $2.13 dividend. This represents a $8.52 dividend on an annualized basis and a yield of 3.70%. Amgen’s dividend payout ratio (DPR) is currently 57.92%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on AMGN. Barclays reduced their price target on shares of Amgen from $225.00 to $210.00 in a research report on Tuesday, July 11th. Mizuho lifted their target price on shares of Amgen from $208.00 to $214.00 in a research report on Wednesday, May 3rd. Piper Sandler cut their target price on shares of Amgen from $293.00 to $288.00 in a research report on Friday, April 28th. Jefferies Financial Group cut their target price on shares of Amgen from $325.00 to $275.00 in a research report on Friday, July 7th. Finally, Credit Suisse Group cut their target price on shares of Amgen from $220.00 to $200.00 in a research report on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $249.12.
Get Our Latest Stock Analysis on Amgen
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company’s products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet’s disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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