True North Advisors LLC Purchases 220 Shares of Amgen Inc. (NASDAQ:AMGN)

True North Advisors LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 24.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,130 shares of the medical research company’s stock after buying an additional 220 shares during the period. True North Advisors LLC’s holdings in Amgen were worth $364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nomura Holdings Inc. purchased a new stake in Amgen in the fourth quarter valued at approximately $3,104,000. MGO One Seven LLC raised its position in shares of Amgen by 4.4% during the 4th quarter. MGO One Seven LLC now owns 6,363 shares of the medical research company’s stock valued at $1,833,000 after buying an additional 268 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of Amgen during the 4th quarter worth $934,000. Northwest Wealth Management LLC purchased a new position in Amgen in the fourth quarter worth $242,000. Finally, Ethic Inc. increased its stake in Amgen by 4.3% in the fourth quarter. Ethic Inc. now owns 41,711 shares of the medical research company’s stock valued at $12,014,000 after acquiring an additional 1,703 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 0.3 %

Shares of AMGN stock opened at $316.59 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The stock has a market capitalization of $169.83 billion, a P/E ratio of 45.38, a P/E/G ratio of 2.98 and a beta of 0.61. The firm’s 50 day moving average is $326.66 and its 200 day moving average is $310.06.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the business earned $5.00 EPS. Research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.84%. Amgen’s payout ratio is 128.57%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMGN. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Argus lifted their target price on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Finally, Morgan Stanley decreased their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.30.

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.