Elevated Capital Advisors LLC Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Elevated Capital Advisors LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,664 shares of the medical research company’s stock after purchasing an additional 125 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Amgen were worth $434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kwmg LLC increased its holdings in shares of Amgen by 3.5% in the fourth quarter. Kwmg LLC now owns 19,475 shares of the medical research company’s stock worth $5,076,000 after purchasing an additional 651 shares during the period. Grassi Investment Management grew its position in Amgen by 4.5% during the fourth quarter. Grassi Investment Management now owns 4,600 shares of the medical research company’s stock worth $1,199,000 after buying an additional 200 shares in the last quarter. Accelerate Investment Advisors LLC increased its stake in Amgen by 46.5% in the 4th quarter. Accelerate Investment Advisors LLC now owns 1,213 shares of the medical research company’s stock worth $316,000 after acquiring an additional 385 shares during the last quarter. Cooper Financial Group raised its holdings in shares of Amgen by 5.6% in the 4th quarter. Cooper Financial Group now owns 8,344 shares of the medical research company’s stock valued at $2,175,000 after acquiring an additional 442 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its position in shares of Amgen by 18.7% during the 4th quarter. Moody National Bank Trust Division now owns 925 shares of the medical research company’s stock valued at $241,000 after acquiring an additional 146 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of Amgen stock opened at $270.19 on Tuesday. The firm has a market cap of $145.24 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The company’s fifty day simple moving average is $278.16 and its two-hundred day simple moving average is $308.35. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the business earned $4.96 EPS. Amgen’s revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts expect that Amgen Inc. will post 19.53 EPS for the current 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 paid a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.52%. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMGN. Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $314.91.

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.