Los Angeles Capital Management LLC Acquires 522,367 Shares of Amgen Inc. (NASDAQ:AMGN)

Los Angeles Capital Management LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 111.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 989,061 shares of the medical research company’s stock after buying an additional 522,367 shares during the period. Amgen comprises approximately 1.1% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Los Angeles Capital Management LLC’s holdings in Amgen were worth $284,869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BIP Wealth LLC raised its stake in Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after acquiring an additional 32 shares during the period. Southland Equity Partners LLC raised its stake in Amgen by 2.3% in the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after acquiring an additional 34 shares during the period. Acropolis Investment Management LLC raised its stake in Amgen by 3.5% in the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after acquiring an additional 34 shares during the period. Opal Wealth Advisors LLC raised its stake in Amgen by 1.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after acquiring an additional 34 shares during the period. Finally, Marino Stram & Associates LLC raised its stake in Amgen by 0.7% in the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after acquiring an additional 34 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.3 %

AMGN stock traded down $0.74 during midday trading on Thursday, hitting $276.63. The company had a trading volume of 1,175,280 shares, compared to its average volume of 2,791,289. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The stock’s 50 day moving average price is $274.64 and its 200 day moving average price is $281.35. The stock has a market cap of $148.38 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 2.65 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the company posted $4.09 earnings per share. The business’s revenue was up 19.8% on a year-over-year basis. As a group, equities research analysts expect that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.25%. Amgen’s dividend payout ratio is presently 72.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. StockNews.com lowered Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. UBS Group reduced their target price on Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Truist Financial reaffirmed a “buy” rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Finally, Morgan Stanley reduced their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $297.40.

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.