Lewis Asset Management LLC Invests $291,000 in Amgen Inc. (NASDAQ:AMGN)

Lewis Asset Management LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,011 shares of the medical research company’s stock, valued at approximately $291,000.

Several other hedge funds have also modified their holdings of AMGN. Southland Equity Partners LLC increased its stake in shares of Amgen by 2.3% in the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after buying an additional 34 shares during the last quarter. Acropolis Investment Management LLC grew its position in shares of Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after acquiring an additional 34 shares during the last quarter. Opal Wealth Advisors LLC lifted its holdings in Amgen by 1.9% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after purchasing an additional 34 shares during the period. FORVIS Wealth Advisors LLC lifted its holdings in Amgen by 1.4% in the fourth quarter. FORVIS Wealth Advisors LLC now owns 2,578 shares of the medical research company’s stock worth $743,000 after purchasing an additional 35 shares during the period. Finally, Evanson Asset Management LLC lifted its holdings in Amgen by 2.1% in the fourth quarter. Evanson Asset Management LLC now owns 1,666 shares of the medical research company’s stock worth $480,000 after purchasing an additional 35 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group cut their price target on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a report on Monday, January 29th. The Goldman Sachs Group raised their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and raised their price objective for the company from $264.00 to $320.00 in a research report on Thursday, December 21st. Finally, Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $295.30.

Amgen Price Performance

Amgen stock opened at $268.09 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The company has a market capitalization of $143.67 billion, a PE ratio of 21.46, a P/E/G ratio of 2.61 and a beta of 0.58. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72. The stock has a 50-day moving average price of $286.53 and a two-hundred day moving average price of $281.31.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same period last year, the company earned $4.09 earnings per share. The business’s quarterly revenue was up 19.8% on a year-over-year basis. Analysts expect that Amgen Inc. will post 19.48 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.36%. Amgen’s payout ratio is 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.