Amgen Inc. (NASDAQ:AMGN) Stock Position Increased by Oak Asset Management LLC

Oak Asset Management LLC raised its position in Amgen Inc. (NASDAQ:AMGN) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,435 shares of the medical research company’s stock after buying an additional 577 shares during the period. Amgen comprises 5.8% of Oak Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. Oak Asset Management LLC’s holdings in Amgen were worth $15,752,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Rathbones Group PLC raised its position in shares of Amgen by 21.1% during the 2nd quarter. Rathbones Group PLC now owns 11,774 shares of the medical research company’s stock worth $3,679,000 after purchasing an additional 2,054 shares during the last quarter. Quilter Plc boosted its stake in shares of Amgen by 1.4% in the second quarter. Quilter Plc now owns 3,749 shares of the medical research company’s stock worth $1,171,000 after acquiring an additional 50 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Amgen by 21.0% during the second quarter. Brown Brothers Harriman & Co. now owns 20,452 shares of the medical research company’s stock worth $6,390,000 after purchasing an additional 3,555 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new position in Amgen in the 2nd quarter valued at $2,528,000. Finally, Capital Wealth Planning LLC lifted its holdings in Amgen by 47.1% in the 2nd quarter. Capital Wealth Planning LLC now owns 1,226,027 shares of the medical research company’s stock valued at $383,072,000 after purchasing an additional 392,727 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMGN shares. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America reiterated an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. TD Cowen increased their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Citigroup dropped their price objective on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $314.91.

Amgen Price Performance

AMGN stock opened at $270.19 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $145.24 billion, a P/E ratio of 34.60, a PEG ratio of 2.91 and a beta of 0.56. The business has a 50 day simple moving average of $278.16 and a 200-day simple moving average of $308.35. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the firm posted $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities analysts anticipate that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.52%. Amgen’s dividend payout ratio is currently 121.90%.

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.