Flagship Harbor Advisors LLC Purchases 818 Shares of Amgen Inc. (NASDAQ:AMGN)

Flagship Harbor Advisors LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 38.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,954 shares of the medical research company’s stock after buying an additional 818 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Amgen were worth $770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen in the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter worth approximately $30,000. Matrix Trust Co bought a new stake in shares of Amgen during the third quarter worth $36,000. Finally, Livelsberger Financial Advisory bought a new stake in Amgen during the 3rd quarter worth about $56,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 2.7 %

Shares of NASDAQ:AMGN opened at $282.95 on Tuesday. The firm has a market cap of $152.09 billion, a P/E ratio of 36.23, a PEG 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 business’s 50 day simple moving average is $271.39 and its two-hundred day simple moving average is $305.81. 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 (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating 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 analyst estimates of $8.50 billion. During the same quarter in the previous year, the business posted $4.96 EPS. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, research analysts forecast that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The business 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 dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.36%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of analyst reports. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Wells Fargo & Company cut their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, Bank of America reaffirmed an “underperform” rating and set a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. Two equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $314.65.

About Amgen

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.