Gimbal Financial Buys New Shares in Amgen Inc. (NASDAQ:AMGN)

Gimbal Financial bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,002 shares of the medical research company’s stock, valued at approximately $289,000.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in Amgen in the 3rd quarter valued at about $26,000. Briaud Financial Planning Inc purchased a new stake in Amgen in the 3rd quarter valued at about $26,000. BOK Financial Private Wealth Inc. purchased a new stake in Amgen in the 4th quarter valued at about $29,000. Providence Capital Advisors LLC purchased a new stake in Amgen in the 3rd quarter valued at about $30,000. Finally, Planned Solutions Inc. purchased a new stake in Amgen in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMGN shares. StockNews.com cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. UBS Group reduced their price objective on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Raymond James assumed coverage on shares of Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. TD Cowen reduced their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average target price of $296.95.

Amgen Stock Up 1.1 %

Shares of Amgen stock traded up $2.98 during trading hours on Monday, hitting $271.91. The company had a trading volume of 2,165,526 shares, compared to its average volume of 2,849,916. The company’s 50-day moving average is $276.90 and its two-hundred day moving average is $281.51. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The company has a market cap of $145.85 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 2.50 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.09 EPS. Analysts anticipate that Amgen Inc. will post 19.45 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.31%. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Amgen Company 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.