Todd Asset Management LLC Acquires 317 Shares of Amgen Inc. (NASDAQ:AMGN)

Todd Asset Management LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 0.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 131,770 shares of the medical research company’s stock after buying an additional 317 shares during the period. Todd Asset Management LLC’s holdings in Amgen were worth $41,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. AIA Group Ltd purchased a new position in shares of Amgen during the first quarter valued at approximately $440,000. Cypress Capital Group increased its stake in shares of Amgen by 6.2% in the first quarter. Cypress Capital Group now owns 14,495 shares of the medical research company’s stock worth $4,516,000 after purchasing an additional 848 shares in the last quarter. Motley Fool Asset Management LLC increased its stake in shares of Amgen by 2.2% in the first quarter. Motley Fool Asset Management LLC now owns 24,989 shares of the medical research company’s stock worth $7,785,000 after purchasing an additional 549 shares in the last quarter. Independent Advisor Alliance increased its stake in shares of Amgen by 4.2% in the first quarter. Independent Advisor Alliance now owns 31,545 shares of the medical research company’s stock worth $9,828,000 after purchasing an additional 1,269 shares in the last quarter. Finally, Linscomb Wealth Inc. boosted its position in shares of Amgen by 11.9% during the first quarter. Linscomb Wealth Inc. now owns 37,993 shares of the medical research company’s stock worth $11,837,000 after acquiring an additional 4,050 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.2%

NASDAQ:AMGN opened at $288.23 on Monday. The company has a market cap of $155.17 billion, a PE ratio of 23.57, a P/E/G ratio of 2.49 and a beta of 0.49. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company’s 50 day moving average is $293.23 and its two-hundred day moving average is $292.81.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the company posted $4.97 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is 77.84%.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Guggenheim initiated coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price for the company. UBS Group lowered their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Royal Bank Of Canada cut their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Bank of America raised their target price on shares of Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $303.76.

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.