Cutter & CO Brokerage Inc. Takes Position in Amgen Inc. (NASDAQ:AMGN)

Cutter & CO Brokerage Inc. acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 737 shares of the medical research company’s stock, valued at approximately $212,000.

Several other large investors have also recently bought and sold shares of AMGN. Briaud Financial Planning Inc purchased a new position in shares of Amgen in the 3rd quarter valued at about $26,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amgen during the 4th quarter worth approximately $29,000. OFI Invest Asset Management acquired a new stake in shares of Amgen in the 3rd quarter worth approximately $26,000. Planned Solutions Inc. purchased a new position in Amgen in the 4th quarter valued at approximately $30,000. Finally, Providence Capital Advisors LLC acquired a new position in Amgen during the third quarter worth $30,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMGN shares. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $329.00 price target on shares of Amgen in a research note on Wednesday, April 3rd. Finally, UBS Group lowered their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $296.95.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $1.06 on Wednesday, reaching $274.60. 933,603 shares of the company’s stock were exchanged, compared to its average volume of 2,820,358. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The business’s 50-day moving average is $276.11 and its two-hundred day moving average is $281.61. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The firm has a market capitalization of $147.29 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.53 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its earnings results 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 net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter last year, the company posted $4.09 earnings per share. Amgen’s revenue was up 19.8% on a year-over-year basis. As a group, equities research analysts forecast that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Announces Dividend

The company 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 is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.28%. Amgen’s dividend payout ratio is presently 72.06%.

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.