Scissortail Wealth Management LLC Invests $1.01 Million in Amgen Inc. (NASDAQ:AMGN)

Scissortail Wealth Management LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,220 shares of the medical research company’s stock, valued at approximately $1,009,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Briaud Financial Planning Inc purchased a new position in Amgen during the 3rd quarter worth approximately $26,000. BOK Financial Private Wealth Inc. purchased a new position in Amgen during the 4th quarter worth approximately $29,000. OFI Invest Asset Management purchased a new position in Amgen during the 3rd quarter worth approximately $26,000. Planned Solutions Inc. purchased a new position in shares of Amgen in the 4th quarter valued at approximately $30,000. Finally, Providence Capital Advisors LLC purchased a new position in shares of Amgen in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on AMGN. BMO Capital Markets upgraded Amgen from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $286.00 to $326.00 in a research note on Tuesday, December 19th. Daiwa Capital Markets upgraded Amgen from a “neutral” rating to a “buy” rating and lifted their target price for the company from $264.00 to $320.00 in a research note on Thursday, December 21st. StockNews.com downgraded Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley lowered their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $295.30.

Amgen Price Performance

AMGN stock traded up $0.13 during midday trading on Tuesday, hitting $265.64. 2,017,570 shares of the stock were exchanged, compared to its average volume of 2,871,780. The stock’s 50-day moving average price is $279.63 and its 200-day moving average price is $281.52. The stock has a market cap of $142.36 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.53 and a beta of 0.58. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $8.13 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. Amgen’s revenue was up 19.8% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

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 issued 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 3.39%. Amgen’s dividend payout ratio (DPR) is 72.06%.

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.