Amgen Inc. (NASDAQ:AMGN) is Oak Asset Management LLC’s 2nd Largest Position

Oak Asset Management LLC increased its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,699 shares of the medical research company’s stock after buying an additional 216 shares during the period. Amgen comprises approximately 7.3% of Oak Asset Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Oak Asset Management LLC’s holdings in Amgen were worth $18,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. OFI Invest Asset Management purchased a new stake in Amgen during the third quarter worth $26,000. Briaud Financial Planning Inc acquired a new stake in shares of Amgen in the third quarter worth approximately $26,000. VisionPoint Advisory Group LLC purchased a new position in shares of Amgen in the second quarter worth about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Amgen during the 1st quarter worth approximately $28,000. Finally, Providence Capital Advisors LLC acquired a new stake in shares of Amgen in the 3rd quarter worth $30,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMGN. UBS Group lowered their price target on Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a report on Monday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $329.00 price target on shares of Amgen in a research report on Wednesday. Morgan Stanley reduced their price target on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Daiwa Capital Markets raised Amgen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $264.00 to $320.00 in a research report on Thursday, December 21st. Finally, Raymond James assumed coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $295.30.

Read Our Latest Report on Amgen

Amgen Stock Down 0.4 %

NASDAQ AMGN traded down $1.10 on Wednesday, hitting $275.11. 283,480 shares of the stock traded hands, compared to its average volume of 2,966,054. 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 stock has a 50-day moving average of $288.00 and a 200 day moving average of $281.45. The company has a market capitalization of $147.44 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 2.67 and a beta of 0.58. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72.

Amgen (NASDAQ:AMGNGet Free Report) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same period last year, the firm earned $4.09 EPS. The firm’s revenue was up 19.8% compared to the same quarter last year. As a group, analysts expect that Amgen Inc. will post 19.48 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is currently 72.06%.

Amgen Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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