Beese Fulmer Investment Management Inc. Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

Beese Fulmer Investment Management Inc. grew its position in Amgen Inc. (NASDAQ:AMGN) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,908 shares of the medical research company’s stock after buying an additional 330 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Amgen were worth $1,218,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Ascent Wealth Partners LLC boosted its position in shares of Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after purchasing an additional 64 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its holdings in Amgen by 242.2% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock worth $6,255,000 after buying an additional 16,985 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Amgen by 285.4% during the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock worth $102,820,000 after buying an additional 292,137 shares in the last quarter. Aire Advisors LLC lifted its holdings in Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock worth $3,461,000 after buying an additional 2,762 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. acquired a new stake in Amgen during the 4th quarter worth approximately $3,531,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 1.2%

Shares of AMGN opened at $287.02 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm’s 50-day moving average is $283.46 and its two-hundred day moving average is $285.42. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a market capitalization of $154.33 billion, a P/E ratio of 38.02, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.96 earnings per share. On average, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is currently 86.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Mizuho boosted their price target on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Royal Bank of Canada reduced their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Piper Sandler reduced their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $309.22.

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.