Fourpath Capital Management LLC Buys 679 Shares of Amgen Inc. (NASDAQ:AMGN)

Fourpath Capital Management LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 29.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,997 shares of the medical research company’s stock after buying an additional 679 shares during the quarter. Fourpath Capital Management LLC’s holdings in Amgen were worth $781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in Amgen during the 3rd quarter worth about $29,000. Matrix Trust Co purchased a new position in Amgen during the 3rd quarter valued at about $36,000. Heck Capital Advisors LLC bought a new stake in shares of Amgen in the 4th quarter valued at about $36,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Amgen in the 3rd quarter worth approximately $56,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMGN. Barclays lifted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Wolfe Research started coverage on Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Piper Sandler reduced their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $314.00.

Amgen Stock Up 1.2 %

NASDAQ:AMGN opened at $288.87 on Tuesday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company’s fifty day moving average price is $271.06 and its 200-day moving average price is $304.11. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a market capitalization of $155.28 billion, a P/E ratio of 36.99, a PEG ratio of 2.87 and a beta of 0.56.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid 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 presently 115.24%.

Amgen Company 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.