Edge Capital Group LLC bought a new position in Amgen, Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 2,803 shares of the medical research company’s stock, valued at approximately $546,000.
Other hedge funds have also recently added to or reduced their stakes in the company. City Holding Co. boosted its holdings in shares of Amgen by 0.3% in the 4th quarter. City Holding Co. now owns 18,015 shares of the medical research company’s stock valued at $3,506,000 after acquiring an additional 50 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Amgen by 2.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 1,992 shares of the medical research company’s stock valued at $388,000 after acquiring an additional 50 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its holdings in shares of Amgen by 1.8% in the 4th quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 3,321 shares of the medical research company’s stock valued at $646,000 after acquiring an additional 58 shares during the last quarter. Hudson Capital Management LLC boosted its holdings in shares of Amgen by 0.7% in the 4th quarter. Hudson Capital Management LLC now owns 8,192 shares of the medical research company’s stock valued at $1,595,000 after acquiring an additional 59 shares during the last quarter. Finally, Deane Retirement Strategies Inc. boosted its holdings in shares of Amgen by 0.6% in the 4th quarter. Deane Retirement Strategies Inc. now owns 9,838 shares of the medical research company’s stock valued at $1,915,000 after acquiring an additional 60 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Amgen stock traded down $1.02 during midday trading on Friday, hitting $171.85. 2,908,523 shares of the stock were exchanged, compared to its average volume of 3,254,087. Amgen, Inc. has a fifty-two week low of $168.44 and a fifty-two week high of $210.19. The stock has a market cap of $105.44 billion, a P/E ratio of 11.93, a PEG ratio of 2.28 and a beta of 1.15. The company has a current ratio of 2.77, a quick ratio of 2.53 and a debt-to-equity ratio of 2.71.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is presently 40.28%.
In other news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $193.18, for a total value of $386,360.00. Following the completion of the transaction, the director now owns 15,092 shares of the company’s stock, valued at $2,915,472.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 6,000 shares of company stock valued at $1,115,580. Company insiders own 0.25% of the company’s stock.
AMGN has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “neutral” rating and issued a price objective on shares of Amgen in a report on Monday, January 14th. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a report on Monday, January 14th. Cowen reissued a “buy” rating and set a $234.00 price target on shares of Amgen in a report on Tuesday, February 26th. Cantor Fitzgerald reissued a “hold” rating and set a $221.00 price target on shares of Amgen in a report on Monday, April 1st. Finally, Mizuho set a $208.00 price target on shares of Amgen and gave the stock a “buy” rating in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. Amgen presently has an average rating of “Hold” and a consensus price target of $208.84.
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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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