Balboa Wealth Partners Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Balboa Wealth Partners lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 40.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,332 shares of the medical research company’s stock after buying an additional 386 shares during the period. Balboa Wealth Partners’ holdings in Amgen were worth $384,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Norges Bank purchased a new position in Amgen in the 4th quarter valued at approximately $1,556,912,000. International Assets Investment Management LLC acquired a new stake in Amgen during the 4th quarter valued at $4,589,900,000. Assenagon Asset Management S.A. grew its holdings in Amgen by 486.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after buying an additional 745,929 shares during the last quarter. abrdn plc grew its holdings in Amgen by 150.4% during the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after buying an additional 626,810 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Amgen by 111.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 989,061 shares of the medical research company’s stock valued at $284,869,000 after buying an additional 522,367 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 0.1 %

NASDAQ:AMGN traded up $0.17 during mid-day trading on Thursday, hitting $309.58. The company had a trading volume of 637,128 shares, compared to its average volume of 2,820,396. The business has a fifty day simple moving average of $283.58 and a 200-day simple moving average of $285.13. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The firm has a market capitalization of $166.07 billion, a price-to-earnings ratio of 44.16, a PEG ratio of 2.85 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.98 earnings per share. Equities analysts forecast that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.91%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMGN has been the topic of a number of analyst reports. Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $230.00 to $300.00 in a report on Friday, May 3rd. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. BMO Capital Markets raised their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, TD Cowen decreased their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $305.65.

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.