Analysts Set Amgen Inc. (NASDAQ:AMGN) Price Target at $314.00

Shares of Amgen Inc. (NASDAQ:AMGN) have received an average rating of “Hold” from the twenty-seven brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $314.00.

Several analysts have recently issued reports on AMGN shares. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Redburn Partners reduced their price target on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. UBS Group cut their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Bank of America restated an “underperform” rating and set a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th.

Institutional Investors Weigh In On Amgen

Several institutional investors have recently made changes to their positions in AMGN. Capital Performance Advisors LLP acquired a new position in Amgen in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen in the 3rd quarter valued at about $29,000. Matrix Trust Co acquired a new position in Amgen in the 3rd quarter valued at about $36,000. Heck Capital Advisors LLC acquired a new position in Amgen in the 4th quarter valued at about $36,000. Finally, Livelsberger Financial Advisory acquired a new position in Amgen in the 3rd quarter valued at about $56,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.5 %

NASDAQ AMGN opened at $285.42 on Friday. The stock has a market capitalization of $153.42 billion, a P/E ratio of 36.55, a PEG ratio of 2.85 and a beta of 0.56. Amgen has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm’s 50-day moving average is $271.06 and its two-hundred day moving average is $304.33.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is presently 121.90%.

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.