EdgeRock Capital LLC Buys Shares of 371 Amgen Inc. (NASDAQ:AMGN)

EdgeRock Capital LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 371 shares of the medical research company’s stock, valued at approximately $107,000.

A number of other large investors also recently made changes to their positions in the business. OFI Invest Asset Management bought a new stake in Amgen during the third quarter worth approximately $26,000. Briaud Financial Planning Inc acquired a new position in shares of Amgen in the third quarter valued at $26,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Amgen in the fourth quarter valued at $29,000. Providence Capital Advisors LLC acquired a new position in shares of Amgen in the third quarter valued at $30,000. Finally, Planned Solutions Inc. acquired a new position in shares of Amgen in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN traded up $0.82 on Tuesday, reaching $300.30. The stock had a trading volume of 2,452,073 shares, compared to its average volume of 2,910,303. The firm has a fifty day moving average of $275.65 and a two-hundred day moving average of $281.74. The company has a market cap of $161.07 billion, a P/E ratio of 42.90, a price-to-earnings-growth ratio of 3.00 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the company posted $3.98 EPS. The company’s revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts anticipate that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders 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 annualized dividend and a yield of 3.00%. Amgen’s payout ratio is currently 128.57%.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Oppenheimer restated an “outperform” rating and issued a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $230.00 to $300.00 in a research note on Friday. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Finally, TD Cowen decreased their price target on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $305.05.

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.