TRUE Private Wealth Advisors Buys 714 Shares of Amgen Inc. (NASDAQ:AMGN)

TRUE Private Wealth Advisors grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 38.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,567 shares of the medical research company’s stock after acquiring an additional 714 shares during the period. TRUE Private Wealth Advisors’ holdings in Amgen were worth $739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Amgen by 1.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock worth $3,133,000 after acquiring an additional 193 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Amgen by 76.8% during the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after acquiring an additional 16,376 shares during the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Amgen by 4.4% during the 3rd quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after acquiring an additional 117 shares during the last quarter. Platform Technology Partners raised its position in Amgen by 7.4% in the 3rd quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock worth $1,567,000 after purchasing an additional 402 shares during the period. Finally, Traynor Capital Management Inc. raised its position in Amgen by 9.5% in the 4th quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock worth $5,455,000 after purchasing an additional 1,650 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMGN. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $329.00 target price on shares of Amgen in a research report on Wednesday, April 3rd. Raymond James assumed coverage on shares of Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating on the stock. Daiwa Capital Markets upgraded shares of Amgen from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $264.00 to $320.00 in a research report on Thursday, December 21st. Finally, The Goldman Sachs Group boosted their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $296.95.

Amgen Trading Down 0.6 %

Shares of AMGN opened at $264.07 on Thursday. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The firm’s 50-day moving average price is $277.99 and its 200-day moving average price is $281.37. The firm has a market capitalization of $141.52 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.47 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the previous year, the firm posted $4.09 earnings per share. Amgen’s quarterly revenue was up 19.8% on a year-over-year basis. Sell-side analysts anticipate that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.41%. Amgen’s dividend payout ratio is presently 72.06%.

About Amgen

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.