McLean Asset Management Corp Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

McLean Asset Management Corp boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,040 shares of the medical research company’s stock after purchasing an additional 117 shares during the quarter. McLean Asset Management Corp’s holdings in Amgen were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the third quarter valued at $25,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen in the second quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the third quarter valued at $29,000. Matrix Trust Co purchased a new stake in shares of Amgen in the third quarter valued at $36,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Amgen in the third quarter valued at $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AMGN shares. Barclays increased their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research note on Friday. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Piper Sandler decreased their price objective 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, Citigroup decreased their price objective on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Two research 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $314.65.

Amgen Stock Down 0.9 %

AMGN stock opened at $275.42 on Monday. The firm has a 50 day moving average of $271.39 and a 200 day moving average of $305.81. The stock has a market capitalization of $148.05 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the business posted $4.96 EPS. The business’s revenue was up 23.2% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. 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. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. Amgen’s dividend payout ratio is presently 115.24%.

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.