275 Shares in Amgen Inc. (NASDAQ:AMGN) Purchased by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 275 shares of the medical research company’s stock, valued at approximately $79,000.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after purchasing an additional 165,636 shares during the period. Northern Trust Corp boosted its position in Amgen by 3.8% in the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after buying an additional 255,463 shares during the period. Bank of New York Mellon Corp boosted its position in Amgen by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,437,182 shares of the medical research company’s stock valued at $1,461,297,000 after buying an additional 61,528 shares during the period. Royal Bank of Canada boosted its position in Amgen by 11.4% in the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after buying an additional 518,689 shares during the period. Finally, Invesco Ltd. boosted its position in Amgen by 15.9% in the 3rd quarter. Invesco Ltd. now owns 3,356,359 shares of the medical research company’s stock valued at $902,055,000 after buying an additional 459,340 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research reports. Oppenheimer reissued an “outperform” rating and issued a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Truist Financial restated a “buy” rating and issued a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Finally, TD Cowen reduced their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $296.95.

Amgen Trading Up 1.1 %

Shares of Amgen stock opened at $271.91 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The firm has a market capitalization of $145.85 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 2.50 and a beta of 0.58. The firm’s 50 day simple moving average is $276.45 and its two-hundred day simple moving average is $281.56.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.09 EPS. Analysts predict that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 72.06%.

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.