Gimbal Financial Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Gimbal Financial acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,002 shares of the medical research company’s stock, valued at approximately $289,000.

Several other large investors also recently bought and sold shares of the company. First Affirmative Financial Network acquired a new position in shares of Amgen during the 3rd quarter worth approximately $249,000. Relyea Zuckerberg Hanson LLC purchased a new stake in shares of Amgen during the third quarter worth $254,000. Douglas Lane & Associates LLC increased its position in shares of Amgen by 2.6% during the third quarter. Douglas Lane & Associates LLC now owns 15,275 shares of the medical research company’s stock worth $4,105,000 after acquiring an additional 384 shares during the period. Trilogy Capital Inc. purchased a new stake in shares of Amgen during the third quarter worth $2,748,000. Finally, Ziegler Capital Management LLC increased its holdings in Amgen by 3.1% in the third quarter. Ziegler Capital Management LLC now owns 9,621 shares of the medical research company’s stock valued at $2,586,000 after buying an additional 290 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Amgen stock traded up $2.98 during midday trading on Monday, reaching $271.91. 2,165,526 shares of the stock traded hands, compared to its average volume of 2,849,916. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The firm has a fifty day moving average price of $276.90 and a two-hundred day moving average price of $281.51. The firm has a market cap of $145.85 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 2.50 and a beta of 0.58. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.09 EPS. On average, equities research analysts forecast that Amgen Inc. will post 19.45 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.31%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is presently 72.06%.

Wall Street Analyst Weigh In

AMGN has been the subject of several research analyst reports. Oppenheimer restated an “outperform” rating and issued a $350.00 price objective on shares of Amgen in a research note on Thursday, February 1st. TD Cowen dropped their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Morgan Stanley dropped their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. StockNews.com cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $329.00 price target on shares of Amgen in a report on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average target price of $296.95.

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.