Regatta Capital Group LLC Raises Stake in Amgen Inc. (NASDAQ:AMGN)

Regatta Capital Group LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,147 shares of the medical research company’s stock after purchasing an additional 64 shares during the period. Regatta Capital Group LLC’s holdings in Amgen were worth $1,602,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its stake in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. increased its position in Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after buying an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC raised its stake in shares of Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after buying an additional 748,200 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after buying an additional 676,598 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Truist Financial dropped their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Sanford C. Bernstein began coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective for the company. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Finally, Bank of America reaffirmed an “underperform” rating and issued a $256.00 price target on shares of Amgen in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $314.65.

Amgen Stock Down 0.9 %

Shares of AMGN opened at $275.42 on Friday. The firm has a market cap of $148.05 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a 50 day simple moving average of $271.39 and a two-hundred day simple moving average of $305.99. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

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, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.46%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is presently 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.