Adell Harriman & Carpenter Inc. Acquires 170 Shares of Amgen Inc. (NASDAQ:AMGN)

Adell Harriman & Carpenter Inc. boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,263 shares of the medical research company’s stock after acquiring an additional 170 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Amgen were worth $4,972,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMGN. International Assets Investment Management LLC bought a new stake in Amgen in the fourth quarter valued at $4,589,900,000. Assenagon Asset Management S.A. grew its holdings in shares of Amgen by 486.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after purchasing an additional 745,929 shares during the last quarter. abrdn plc increased its position in shares of Amgen by 150.4% during the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after purchasing an additional 626,810 shares in the last quarter. Royal Bank of Canada lifted its holdings in Amgen by 11.4% during the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after purchasing an additional 518,689 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Amgen by 22.0% during the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after buying an additional 490,539 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 2.4 %

NASDAQ AMGN traded up $6.40 during trading on Monday, hitting $276.38. The stock had a trading volume of 2,676,691 shares, compared to its average volume of 2,820,874. The company has a market capitalization of $148.24 billion, a PE ratio of 21.62, a P/E/G ratio of 2.61 and a beta of 0.58. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72. The company’s 50-day moving average price is $275.10 and its two-hundred day moving average price is $281.51. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the previous year, the firm posted $4.09 earnings per share. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, sell-side analysts forecast that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.26%. Amgen’s dividend payout ratio is 72.06%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMGN shares. Raymond James started coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. TD Cowen lowered their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Oppenheimer reissued an “outperform” rating and set a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, Truist Financial reissued a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $297.40.

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.