Graypoint LLC Buys 2,175 Shares of Amgen Inc. (NASDAQ:AMGN)

Graypoint LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 42.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,339 shares of the medical research company's stock after purchasing an additional 2,175 shares during the period. Graypoint LLC's holdings in Amgen were worth $1,913,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMGN. Ascent Group LLC boosted its position in shares of Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company's stock valued at $3,421,000 after acquiring an additional 31 shares in the last quarter. Cadinha & Co. LLC boosted its holdings in Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company's stock valued at $1,678,000 after purchasing an additional 32 shares in the last quarter. Lansing Street Advisors boosted its holdings in Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company's stock valued at $832,000 after purchasing an additional 32 shares in the last quarter. Unionview LLC grew its stake in shares of Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company's stock valued at $282,000 after purchasing an additional 32 shares during the period. Finally, Traveka Wealth LLC raised its holdings in shares of Amgen by 4.3% in the 3rd quarter. Traveka Wealth LLC now owns 807 shares of the medical research company's stock worth $260,000 after buying an additional 33 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Down 0.7 %

Shares of Amgen stock traded down $1.98 during trading on Friday, hitting $262.23. 2,721,781 shares of the company were exchanged, compared to its average volume of 3,053,942. The firm has a market capitalization of $140.96 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The firm's fifty day moving average price is $279.10 and its 200 day moving average price is $308.69. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1-year low of $253.30 and a 1-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 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the business posted $4.96 earnings per share. The business's revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts expect that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.63%. This is a positive change from Amgen's previous quarterly dividend of $2.25. Amgen's payout ratio is presently 121.90%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They issued an "outperform" rating and a $380.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Leerink Partners decreased their target price on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, Wolfe Research began coverage on Amgen in a research note on Friday, November 15th. They issued a "peer perform" rating for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of "Hold" and an average price target of $314.91.

Amgen Company 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.