Flavin Financial Services Inc. Takes Position in Amgen Inc. (NASDAQ:AMGN)

Flavin Financial Services Inc. purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, Holdings Channel reports. The firm purchased 3,269 shares of the medical research company’s stock, valued at approximately $852,000.

A number of other large investors have also made changes to their positions in AMGN. Talbot Financial LLC grew its position in Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after acquiring an additional 2,274 shares during the period. Swiss National Bank grew its position in Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after acquiring an additional 5,500 shares during the period. Asset Advisors Investment Management LLC grew its position in Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after acquiring an additional 2,954 shares during the period. Principal Financial Group Inc. grew its position in Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after acquiring an additional 35,785 shares during the period. Finally, First Horizon Advisors Inc. grew its position in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after acquiring an additional 1,872 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of AMGN stock opened at $288.87 on Tuesday. The stock’s 50-day moving average is $271.06 and its two-hundred day moving average is $304.11. The firm has a market cap of $155.28 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 2.87 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.30%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Leerink Partners lowered their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Sanford C. Bernstein assumed coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Finally, TD Cowen increased their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $314.00.

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.