7,883 Shares in Amgen Inc. (NASDAQ:AMGN) Purchased by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,883 shares of the medical research company’s stock, valued at approximately $2,270,000.

A number of other institutional investors have also bought and sold shares of AMGN. OFI Invest Asset Management acquired a new stake in shares of Amgen during the third quarter valued at about $26,000. Briaud Financial Planning Inc acquired a new stake in Amgen during the 3rd quarter worth $26,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Amgen during the fourth quarter worth about $29,000. Providence Capital Advisors LLC purchased a new position in Amgen in the 3rd quarter valued at $30,000. Finally, Planned Solutions Inc. purchased a new position in Amgen during the fourth quarter worth about $30,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 2.3 %

Amgen stock traded up $7.01 during trading hours on Wednesday, hitting $307.31. The stock had a trading volume of 2,858,989 shares, compared to its average volume of 2,909,728. The business’s 50 day simple moving average is $275.65 and its 200-day simple moving average is $281.74. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The stock has a market cap of $164.85 billion, a price-to-earnings ratio of 43.90, a P/E/G ratio of 3.00 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.98 EPS. On average, equities analysts predict that Amgen Inc. will post 19.46 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders 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 2.93%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is presently 128.57%.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. UBS Group upped their target price on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Morgan Stanley upped their target price on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $305.05.

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.