Bahl & Gaynor Inc. Grows Position in Amgen Inc. (NASDAQ:AMGN)

Bahl & Gaynor Inc. increased its position in Amgen Inc. (NASDAQ:AMGN) by 36.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 606,580 shares of the medical research company’s stock after purchasing an additional 161,157 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Amgen were worth $174,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Briaud Financial Planning Inc purchased a new position in Amgen during the third quarter valued at $26,000. BOK Financial Private Wealth Inc. purchased a new position in Amgen during the fourth quarter valued at $29,000. OFI Invest Asset Management purchased a new position in Amgen during the third quarter valued at $26,000. Planned Solutions Inc. purchased a new position in Amgen during the fourth quarter valued at $30,000. Finally, Providence Capital Advisors LLC purchased a new position in Amgen during the third quarter valued at $30,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $269.98 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The business has a 50-day simple moving average of $275.10 and a two-hundred day simple moving average of $281.45. The stock has a market cap of $144.81 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.60 and a beta of 0.58. Amgen Inc. has a 52 week low of $211.71 and a 52 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 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter in the prior year, the business posted $4.09 earnings per share. The business’s quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts expect that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Announces Dividend

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 given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Truist Financial reissued a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. StockNews.com lowered Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Finally, Oppenheimer reissued an “outperform” rating and issued a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.95.

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.