Tidal Investments LLC Buys 646 Shares of Amgen Inc. (NASDAQ:AMGN)

Tidal Investments LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,480 shares of the medical research company’s stock after purchasing an additional 646 shares during the period. Tidal Investments LLC’s holdings in Amgen were worth $7,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB boosted its stake in Amgen by 9.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 65,201 shares of the medical research company’s stock worth $21,008,000 after purchasing an additional 5,748 shares during the period. Arvest Bank Trust Division bought a new position in shares of Amgen during the third quarter worth $408,000. World Investment Advisors LLC grew its stake in Amgen by 48.4% during the third quarter. World Investment Advisors LLC now owns 11,083 shares of the medical research company’s stock valued at $3,571,000 after acquiring an additional 3,616 shares in the last quarter. Tudor Financial Inc. bought a new stake in Amgen in the 3rd quarter valued at $3,281,000. Finally, Morse Asset Management Inc purchased a new stake in Amgen in the 3rd quarter worth $806,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the subject of several research analyst reports. TD Cowen raised their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Redburn Partners reduced their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Citigroup dropped their price objective on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $319.68.

Amgen Price Performance

Shares of AMGN stock opened at $274.06 on Friday. The stock’s 50-day simple moving average is $303.00 and its 200-day simple moving average is $314.87. The firm has a market capitalization of $147.32 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.91 and a beta of 0.55. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a fifty-two week low of $257.80 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the company posted $4.96 earnings per share. The business’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.47%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 115.24%.

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.