Intrepid Capital Management Inc. Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

Intrepid Capital Management Inc. raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,744 shares of the medical research company’s stock after buying an additional 110 shares during the quarter. Intrepid Capital Management Inc.’s holdings in Amgen were worth $562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Keynote Financial Services LLC increased its stake in shares of Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after buying an additional 30 shares during the period. Ascent Group LLC increased its stake in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares during the period. Hofer & Associates. Inc increased its stake in shares of Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after buying an additional 32 shares during the period. Cadinha & Co. LLC increased its stake in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 32 shares during the period. Finally, Lansing Street Advisors increased its stake in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMGN. Deutsche Bank Aktiengesellschaft decreased their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Redburn Partners decreased their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Sanford C. Bernstein initiated coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Barclays boosted their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $323.05.

Amgen Price Performance

NASDAQ:AMGN traded up $0.38 during trading hours on Tuesday, reaching $278.48. 404,194 shares of the company were exchanged, compared to its average volume of 2,567,121. The company has a market capitalization of $149.69 billion, a P/E ratio of 35.61, a P/E/G ratio of 3.13 and a beta of 0.55. Amgen Inc. has a 1-year low of $257.80 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business has a 50 day moving average of $311.37 and a 200 day moving average of $317.16.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the company earned $4.96 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Research analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

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.