Accelerate Investment Advisors LLC Purchases 385 Shares of Amgen Inc. (NASDAQ:AMGN)

Accelerate Investment Advisors LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 46.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,213 shares of the medical research company’s stock after acquiring an additional 385 shares during the period. Accelerate Investment Advisors LLC’s holdings in Amgen were worth $316,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ascent Group LLC grew its holdings in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares during the last quarter. Cadinha & Co. LLC raised its stake in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the last quarter. Lansing Street Advisors increased its holdings in Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares in the last quarter. Unionview LLC boosted its stake in Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares in the last quarter. Finally, Traveka Wealth LLC grew its holdings in shares of Amgen by 4.3% during the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 2.5 %

AMGN traded up $6.54 during midday trading on Monday, hitting $268.77. 1,575,550 shares of the company were exchanged, compared to its average volume of 2,833,259. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a market capitalization of $144.47 billion, a P/E ratio of 34.41, a P/E/G ratio of 2.91 and a beta of 0.56. The firm’s 50 day moving average price is $279.10 and its 200-day moving average price is $308.66.

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

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.54%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is presently 121.90%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Leerink Partners dropped their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. TD Cowen boosted their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Robert W. Baird reissued an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $314.91.

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.