McLean Asset Management Corp lifted its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,040 shares of the medical research company’s stock after purchasing an additional 117 shares during the quarter. McLean Asset Management Corp’s holdings in Amgen were worth $271,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the third quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the third quarter valued at about $29,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen in the second quarter valued at about $30,000. Matrix Trust Co purchased a new stake in shares of Amgen in the third quarter valued at about $36,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Amgen in the third quarter valued at about $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Amgen Stock Performance
Shares of Amgen stock opened at $275.42 on Monday. The firm has a market capitalization of $148.05 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm’s 50 day moving average is $271.39 and its two-hundred day moving average is $305.81.
Amgen Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. Amgen’s dividend payout ratio (DPR) is 115.24%.
Analyst Ratings Changes
A number of research firms have commented on AMGN. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Barclays upped their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Redburn Partners decreased their target price on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $314.65.
Check Out Our Latest Stock Analysis on Amgen
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.
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