Oak Asset Management LLC Purchases 577 Shares of Amgen Inc. (NASDAQ:AMGN)

Oak Asset Management LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,435 shares of the medical research company’s stock after buying an additional 577 shares during the quarter. Amgen accounts for 5.8% of Oak Asset Management LLC’s investment portfolio, making the stock its 2nd largest holding. Oak Asset Management LLC’s holdings in Amgen were worth $15,752,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AMGN. Pathway Financial Advisers LLC lifted its stake in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. International Assets Investment Management LLC increased its holdings in Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after acquiring an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC boosted its stake in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after acquiring an additional 748,200 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after acquiring an additional 676,598 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 3.0 %

Shares of Amgen stock opened at $270.19 on Tuesday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The business has a 50-day moving average of $278.16 and a 200-day moving average of $308.35. The company has a market capitalization of $145.24 billion, a PE ratio of 34.60, a P/E/G ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the firm earned $4.96 EPS. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.52%. Amgen’s dividend payout ratio is currently 121.90%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMGN shares. Royal Bank of Canada reduced their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Leerink Partners reduced their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Bank of America reissued an “underperform” rating and set a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. UBS Group reduced their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Piper Sandler dropped their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $314.91.

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.