Obermeyer Wood Investment Counsel Lllp Raises Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Obermeyer Wood Investment Counsel Lllp increased its position in Amgen Inc. (NASDAQ:AMGN) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,087 shares of the medical research company’s stock after buying an additional 169 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Amgen were worth $1,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Southland Equity Partners LLC raised its holdings in shares of Amgen by 2.3% in the fourth 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 in the last quarter. Acropolis Investment Management LLC raised its holdings in shares of Amgen by 3.5% in the fourth 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 in the last quarter. Opal Wealth Advisors LLC raised its holdings in shares of Amgen by 1.9% in the fourth 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 in the last quarter. Marino Stram & Associates LLC raised its holdings in shares of Amgen by 0.7% in the fourth 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 in the last quarter. Finally, FORVIS Wealth Advisors LLC raised its holdings in shares of Amgen by 1.4% in the fourth quarter. FORVIS Wealth Advisors LLC now owns 2,578 shares of the medical research company’s stock valued at $743,000 after acquiring an additional 35 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN stock traded down $1.32 during trading hours on Thursday, hitting $262.75. 2,082,442 shares of the company’s stock were exchanged, compared to its average volume of 2,851,966. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The firm has a market cap of $140.81 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.47 and a beta of 0.58. The firm has a 50 day moving average of $277.99 and a two-hundred day moving average of $281.37. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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. 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 period in the prior year, the company earned $4.09 EPS. The firm’s revenue was up 19.8% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed 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. This represents a $9.00 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Daiwa Capital Markets upgraded shares of Amgen from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $264.00 to $320.00 in a report on Thursday, December 21st. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Raymond James assumed coverage on shares of Amgen in a report on Thursday, March 28th. They issued a “market perform” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $329.00 target price on shares of Amgen in a report on Wednesday, April 3rd. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $296.95.

About Amgen

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.