Rayburn West Financial Services LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 8,879 shares of the medical research company’s stock, valued at approximately $2,906,000. Amgen accounts for approximately 1.8% of Rayburn West Financial Services LLC’s holdings, making the stock its 22nd biggest position.
Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Amgen by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock valued at $17,949,296,000 after buying an additional 961,975 shares in the last quarter. Capital International Investors increased its holdings in shares of Amgen by 1.5% in the third quarter. Capital International Investors now owns 19,192,995 shares of the medical research company’s stock valued at $5,414,296,000 after buying an additional 282,219 shares in the last quarter. Capital World Investors increased its holdings in shares of Amgen by 11.5% in the third quarter. Capital World Investors now owns 18,795,474 shares of the medical research company’s stock valued at $5,303,578,000 after buying an additional 1,935,876 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Amgen by 2.7% in the third quarter. Capital Research Global Investors now owns 4,731,290 shares of the medical research company’s stock valued at $1,335,168,000 after buying an additional 122,631 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Amgen by 6.6% in the third quarter. Invesco Ltd. now owns 4,467,287 shares of the medical research company’s stock valued at $1,260,668,000 after buying an additional 277,031 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.
Amgen Price Performance
Shares of NASDAQ:AMGN opened at $336.45 on Thursday. The company’s fifty day moving average is $351.05 and its two-hundred day moving average is $342.80. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. Amgen Inc. has a 12-month low of $261.43 and a 12-month high of $391.29. The company has a market cap of $181.58 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 3.38 and a beta of 0.44.
Amgen Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, May 15th. Amgen’s payout ratio is currently 70.15%.
Insider Activity at Amgen
In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the transaction, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research firms have issued reports on AMGN. Argus upped their price target on Amgen from $360.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 6th. Oppenheimer set a $400.00 price target on Amgen and gave the company an “outperform” rating in a report on Thursday, January 29th. Leerink Partners reissued a “market perform” rating and set a $355.00 target price on shares of Amgen in a research note on Thursday, March 5th. Barclays assumed coverage on shares of Amgen in a research note on Friday, February 20th. They set an “equal weight” rating and a $350.00 target price on the stock. Finally, Erste Group Bank reissued a “hold” rating on shares of Amgen in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $356.35.
Read Our Latest Analysis on Amgen
About Amgen
Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.
Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.
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