Meadow Creek Wealth Advisors LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Meadow Creek Wealth Advisors LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, Holdings Channel.com reports. The firm purchased 1,854 shares of the medical research company’s stock, valued at approximately $534,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Briaud Financial Planning Inc acquired a new position in Amgen during the 3rd quarter valued at about $26,000. OFI Invest Asset Management acquired a new position in Amgen during the 3rd quarter valued at about $26,000. Planned Solutions Inc. acquired a new position in Amgen during the 4th quarter valued at about $30,000. Providence Capital Advisors LLC acquired a new position in Amgen during the 3rd quarter valued at about $30,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Amgen during the 1st quarter valued at about $28,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ AMGN traded down $1.98 during midday trading on Thursday, reaching $284.32. The company’s stock had a trading volume of 2,288,855 shares, compared to its average volume of 3,040,904. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The company has a 50 day moving average price of $290.09 and a 200 day moving average price of $280.70. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The company has a market cap of $152.37 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 2.66 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the previous year, the firm earned $4.09 EPS. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.17%. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMGN shares. Truist Financial reissued a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Wednesday, November 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Amgen in a research note on Thursday, February 1st. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and upped their price target for the stock from $264.00 to $320.00 in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $295.30.

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.