21,800 Shares in Amgen Inc. (NASDAQ:AMGN) Bought by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, Holdings Channel reports. The fund bought 21,800 shares of the medical research company’s stock, valued at approximately $5,682,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Tallon Kerry Patrick acquired a new position in Amgen in the fourth quarter valued at approximately $270,000. Brighton Jones LLC increased its holdings in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in shares of Amgen by 38.3% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,954 shares of the medical research company’s stock valued at $770,000 after purchasing an additional 818 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Amgen by 2.5% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,314 shares of the medical research company’s stock worth $3,470,000 after buying an additional 329 shares in the last quarter. Finally, Drive Wealth Management LLC purchased a new stake in Amgen during the fourth quarter worth $236,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 2.9%

AMGN opened at $279.45 on Wednesday. The firm has a market capitalization of $150.26 billion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company’s 50 day simple moving average is $285.23 and its two-hundred day simple moving average is $285.81. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter last year, the firm earned $3.96 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 86.86%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. UBS Group reiterated a “neutral” rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Mizuho raised their price objective on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $309.22.

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.