IMS Capital Management Has $1.69 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

IMS Capital Management raised its position in Amgen Inc. (NASDAQ:AMGN) by 10.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,934 shares of the medical research company’s stock after acquiring an additional 576 shares during the period. IMS Capital Management’s holdings in Amgen were worth $1,687,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Horizon Financial Services LLC bought a new stake in Amgen during the 1st quarter worth approximately $28,000. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the 4th quarter worth $29,000. United Community Bank acquired a new position in Amgen during the 4th quarter worth $29,000. Delos Wealth Advisors LLC lifted its holdings in Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares in the last quarter. Finally, Hartford Financial Management Inc. lifted its holdings in Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN traded down $1.54 during mid-day trading on Friday, hitting $333.99. The stock had a trading volume of 2,106,216 shares, compared to its average volume of 1,890,833. Amgen Inc. has a twelve month low of $228.21 and a twelve month high of $346.85. The stock has a market cap of $179.16 billion, a price-to-earnings ratio of 47.71, a PEG ratio of 2.78 and a beta of 0.58. The company’s 50 day simple moving average is $316.30 and its 200 day simple moving average is $298.30. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period last year, the business posted $3.98 EPS. Amgen’s revenue was up 22.0% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, August 16th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.69%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Analyst Ratings Changes

AMGN has been the topic of several research reports. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. TD Cowen cut their price target on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Truist Financial reissued a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Royal Bank of Canada increased their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Finally, Argus increased their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $312.63.

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.