Old Port Advisors Has $330,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Old Port Advisors boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 4.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,162 shares of the medical research company’s stock after buying an additional 48 shares during the period. Old Port Advisors’ holdings in Amgen were worth $330,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen during the 4th quarter worth approximately $29,000. United Community Bank acquired a new stake in Amgen during the 4th quarter worth approximately $29,000. Horizon Financial Services LLC acquired a new stake in Amgen in the first quarter valued at $28,000. Delos Wealth Advisors LLC boosted its holdings in Amgen by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its stake in Amgen by 56.9% during the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after buying an additional 41 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Down 0.5 %

Amgen stock traded down $1.54 during trading on Friday, reaching $333.99. The stock had a trading volume of 2,106,216 shares, compared to its average volume of 1,890,833. The stock has a market cap of $179.16 billion, a PE ratio of 47.71, a P/E/G ratio of 2.78 and a beta of 0.58. The business has a 50 day moving average price of $316.30 and a 200 day moving average price of $298.30. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 52-week low of $228.21 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. Amgen’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the firm posted $3.98 EPS. On average, analysts predict that Amgen Inc. will post 19.5 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, August 16th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.69%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AMGN shares. Argus raised their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. TD Cowen cut their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada boosted their price objective on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Finally, UBS Group increased their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $312.63.

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.