Rovin Capital UT ADV Buys 582 Shares of Amgen Inc. (NASDAQ:AMGN)

Rovin Capital UT ADV increased its position in Amgen Inc. (NASDAQ:AMGN) by 89.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,235 shares of the medical research company’s stock after acquiring an additional 582 shares during the quarter. Rovin Capital UT ADV’s holdings in Amgen were worth $322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC increased its stake in Amgen by 30.4% in the 2nd quarter. Axxcess Wealth Management LLC now owns 16,442 shares of the medical research company’s stock worth $5,137,000 after buying an additional 3,833 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Amgen by 2.7% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 16,243 shares of the medical research company’s stock worth $5,075,000 after acquiring an additional 424 shares during the period. Wealth Alliance grew its position in shares of Amgen by 17.2% during the second quarter. Wealth Alliance now owns 11,780 shares of the medical research company’s stock worth $3,681,000 after purchasing an additional 1,728 shares in the last quarter. E Fund Management Co. Ltd. raised its stake in Amgen by 29.3% during the 2nd quarter. E Fund Management Co. Ltd. now owns 9,739 shares of the medical research company’s stock valued at $3,043,000 after purchasing an additional 2,207 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new position in Amgen in the 2nd quarter worth approximately $312,000. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. Citigroup cut their price objective on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Barclays raised their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft decreased their target price on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Piper Sandler reduced their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Finally, Wolfe Research assumed coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average price target of $314.91.

Amgen Stock Up 0.7 %

Shares of NASDAQ AMGN opened at $268.94 on Thursday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm has a market capitalization of $144.56 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 2.91 and a beta of 0.56. The stock has a 50 day moving average price of $277.12 and a 200 day moving average price of $308.03. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.96 EPS. Sell-side analysts expect that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.54%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 121.90%.

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.