MCF Advisors LLC Purchases 940 Shares of Amgen Inc. (NASDAQ:AMGN)

MCF Advisors LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 21.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,413 shares of the medical research company’s stock after acquiring an additional 940 shares during the quarter. MCF Advisors LLC’s holdings in Amgen were worth $1,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in shares of Amgen during the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen in the 3rd quarter worth approximately $29,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen during the second quarter worth $30,000. Matrix Trust Co acquired a new position in shares of Amgen in the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory purchased a new stake in Amgen in the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN stock opened at $274.81 on Wednesday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The firm has a market cap of $147.72 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56. The stock’s fifty day simple moving average is $272.95 and its 200 day simple moving average is $306.92. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the firm earned $4.96 earnings per share. Amgen’s revenue was up 23.2% compared to the same quarter last year. On average, analysts expect that Amgen Inc. will post 19.57 earnings per share for the current fiscal 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 paid a dividend of $2.38 per share. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial cut their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Citigroup dropped their target price on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Redburn Partners reduced their price target on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $314.91.

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.