Cumberland Partners Ltd Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Cumberland Partners Ltd acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,580 shares of the medical research company’s stock, valued at approximately $1,028,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Amgen by 0.3% during the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after acquiring an additional 165,636 shares during the last quarter. Northern Trust Corp increased its position in shares of Amgen by 3.8% during the third quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock worth $1,875,306,000 after acquiring an additional 255,463 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Amgen by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 5,437,182 shares of the medical research company’s stock worth $1,461,297,000 after acquiring an additional 61,528 shares during the last quarter. Royal Bank of Canada increased its holdings in Amgen by 11.4% in the third quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after buying an additional 518,689 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Amgen by 15.9% in the third quarter. Invesco Ltd. now owns 3,356,359 shares of the medical research company’s stock valued at $902,055,000 after buying an additional 459,340 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMGN shares. UBS Group lowered their price objective on Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. StockNews.com lowered Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Oppenheimer reissued an “outperform” rating and issued a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. Morgan Stanley lowered their price objective on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Finally, SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $296.95.

Amgen Price Performance

AMGN traded up $0.25 during trading on Wednesday, reaching $273.79. The stock had a trading volume of 1,242,489 shares, compared to its average volume of 2,824,360. The firm has a market capitalization of $146.85 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 2.53 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The stock has a 50 day moving average of $276.11 and a two-hundred day moving average of $281.61.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.09 earnings per share. As a group, equities analysts anticipate that Amgen Inc. will post 19.45 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.29%. Amgen’s dividend payout ratio (DPR) is 72.06%.

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.