Twin Capital Management Inc. Raises Position in Amgen Inc. (NASDAQ:AMGN)

Twin Capital Management Inc. raised its stake in Amgen Inc. (NASDAQ:AMGN) by 195.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,795 shares of the medical research company’s stock after purchasing an additional 9,779 shares during the quarter. Twin Capital Management Inc.’s holdings in Amgen were worth $4,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CapWealth Advisors LLC raised its stake in shares of Amgen by 1.2% in the fourth quarter. CapWealth Advisors LLC now owns 29,988 shares of the medical research company’s stock worth $8,637,000 after purchasing an additional 350 shares during the last quarter. Groesbeck Investment Management Corp NJ grew its holdings in shares of Amgen by 5.6% in the fourth quarter. Groesbeck Investment Management Corp NJ now owns 3,788 shares of the medical research company’s stock valued at $1,091,000 after acquiring an additional 200 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Amgen by 1.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 34,764 shares of the medical research company’s stock valued at $10,013,000 after acquiring an additional 568 shares in the last quarter. Stone House Investment Management LLC grew its holdings in shares of Amgen by 553.1% in the fourth quarter. Stone House Investment Management LLC now owns 209 shares of the medical research company’s stock valued at $60,000 after acquiring an additional 177 shares in the last quarter. Finally, Oakworth Capital Inc. grew its holdings in shares of Amgen by 101.5% in the fourth quarter. Oakworth Capital Inc. now owns 1,445 shares of the medical research company’s stock valued at $416,000 after acquiring an additional 728 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN stock traded down $0.48 on Thursday, reaching $263.59. The company’s stock had a trading volume of 609,329 shares, compared to its average volume of 2,831,764. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a market capitalization of $141.26 billion, a P/E ratio of 21.14, a PEG ratio of 2.47 and a beta of 0.58. The stock’s 50 day simple moving average is $277.99 and its 200-day simple moving average is $281.37.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter last year, the business posted $4.09 earnings per share. The firm’s revenue was up 19.8% compared to the same quarter last year. As a group, equities analysts predict that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.41%. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Raymond James assumed coverage on Amgen in a report on Thursday, March 28th. They issued a “market perform” rating for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $329.00 price objective on shares of Amgen in a report on Wednesday, April 3rd. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

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.