Harbor Investment Advisory LLC Has $6.52 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Harbor Investment Advisory LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,009 shares of the medical research company’s stock after purchasing an additional 697 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Amgen were worth $6,518,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AMGN. Zhang Financial LLC raised its stake in shares of Amgen by 6.0% in the fourth quarter. Zhang Financial LLC now owns 16,165 shares of the medical research company’s stock valued at $4,213,000 after purchasing an additional 915 shares in the last quarter. Corundum Group Inc. raised its stake in shares of Amgen by 103.3% in the 4th quarter. Corundum Group Inc. now owns 3,996 shares of the medical research company’s stock valued at $1,042,000 after buying an additional 2,030 shares in the last quarter. Purus Wealth Management LLC raised its stake in shares of Amgen by 1.0% in the 4th quarter. Purus Wealth Management LLC now owns 8,387 shares of the medical research company’s stock valued at $2,186,000 after buying an additional 84 shares in the last quarter. M.E. Allison & CO. Inc. bought a new position in shares of Amgen during the 4th quarter worth about $388,000. Finally, Willner & Heller LLC boosted its position in shares of Amgen by 81.9% during the 4th quarter. Willner & Heller LLC now owns 2,925 shares of the medical research company’s stock valued at $762,000 after acquiring an additional 1,317 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Redburn Partners cut their price objective on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Wolfe Research assumed coverage on shares of Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $314.91.

Amgen Trading Up 1.0 %

Shares of NASDAQ AMGN opened at $272.11 on Tuesday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a market capitalization of $146.27 billion, a P/E ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company’s 50 day simple moving average is $273.95 and its 200 day simple moving average is $307.18.

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 the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $4.96 EPS. On average, analysts predict that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 121.90%.

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.