Liberty One Investment Management LLC Boosts Position in Amgen Inc. (NASDAQ:AMGN)

Liberty One Investment Management LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,895 shares of the medical research company's stock after buying an additional 1,264 shares during the quarter. Liberty One Investment Management LLC's holdings in Amgen were worth $3,882,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMGN. Piper Sandler Companies reissued an "overweight" rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Redburn Partners dropped their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Piper Sandler decreased their price target on Amgen from $344.00 to $310.00 and set an "overweight" rating on the stock in a report on Thursday, January 2nd. Barclays lifted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. 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. Based on data from MarketBeat, Amgen has a consensus rating of "Hold" and an average price target of $314.91.

Amgen Stock Up 1.0 %

Shares of NASDAQ AMGN traded up $2.68 during midday trading on Monday, reaching $272.11. 3,244,015 shares of the company's stock traded hands, compared to its average volume of 3,140,853. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The stock's 50 day simple moving average is $273.95 and its 200-day simple moving average is $307.18. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

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

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. Amgen's dividend payout ratio (DPR) is 121.90%.

About Amgen

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.