Harbor Capital Advisors Inc. Buys 285 Shares of Amgen Inc. (NASDAQ:AMGN)

Harbor Capital Advisors Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,712 shares of the medical research company’s stock after acquiring an additional 285 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Amgen were worth $3,053,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMGN. Pathway Financial Advisers LLC grew 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 worth $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. International Assets Investment Management LLC boosted 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 worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC raised its stake in 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 valued at $223,897,000 after buying an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after buying an additional 676,598 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $262.23 on Friday. The stock has a market capitalization of $140.96 billion, a PE ratio of 33.58, a P/E/G ratio of 2.91 and a beta of 0.56. The business has a 50 day simple moving average of $279.10 and a two-hundred day simple moving average of $308.69. 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.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.96 earnings per share. On average, research analysts predict that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.63%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMGN shares. TD Cowen lifted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Redburn Partners cut their target price on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Finally, Barclays lifted their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently 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.