Forum Financial Management LP Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

Forum Financial Management LP lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 352,784 shares of the medical research company’s stock after acquiring an additional 2,411 shares during the quarter. Amgen accounts for 1.5% of Forum Financial Management LP’s investment portfolio, making the stock its 11th largest position. Forum Financial Management LP owned 0.07% of Amgen worth $91,950,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Centricity Wealth Management LLC acquired a new stake in shares of Amgen in the 4th quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in shares of Amgen in the 4th quarter valued at $34,000. Atala Financial Inc acquired a new stake in shares of Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the 4th quarter valued at $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMGN shares. Mizuho lifted their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. UBS Group reiterated a “neutral” rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Royal Bank of Canada cut their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Guggenheim started coverage on shares of Amgen in a research note on Tuesday. They set a “neutral” rating and a $288.00 price target on the stock. Finally, Piper Sandler cut their price target on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $309.22.

Amgen Price Performance

Amgen stock opened at $271.66 on Friday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a 50 day moving average price of $286.82 and a 200 day moving average price of $286.72. The company has a market cap of $146.07 billion, a price-to-earnings ratio of 35.98, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the firm earned $3.96 earnings per share. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. Amgen’s dividend payout ratio (DPR) is presently 86.86%.

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.