Custom Index Systems LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Custom Index Systems LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,050 shares of the medical research company's stock, valued at approximately $274,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Amgen in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen in the third quarter valued at $29,000. Matrix Trust Co acquired a new position in Amgen in the 3rd quarter valued at about $36,000. Heck Capital Advisors LLC purchased a new stake in shares of Amgen during the 4th quarter valued at $36,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Amgen during the third quarter worth about $56,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Bank of America restated an "underperform" rating and issued a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. StockNews.com lowered Amgen from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 18th. Redburn Partners dropped their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Finally, Piper Sandler lowered their target price on shares of Amgen from $344.00 to $310.00 and set an "overweight" rating for the company in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $314.00.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $17.81 during midday trading on Wednesday, reaching $306.83. 3,426,778 shares of the company's stock traded hands, compared to its average volume of 3,144,917. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a market cap of $164.93 billion, a price-to-earnings ratio of 39.28, a P/E/G ratio of 2.87 and a beta of 0.56. The stock has a 50 day moving average of $271.14 and a 200 day moving average of $303.52. 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 issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 13.00% and a return on equity of 168.35%. As a group, equities research analysts anticipate that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.10%. This is a boost from Amgen's previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen's dividend payout ratio (DPR) 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.