Secure Asset Management LLC Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Secure Asset Management LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 138.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,248 shares of the medical research company’s stock after acquiring an additional 1,305 shares during the quarter. Secure Asset Management LLC’s holdings in Amgen were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Red Door Wealth Management LLC grew its holdings in Amgen by 4.4% during the 4th quarter. Red Door Wealth Management LLC now owns 29,151 shares of the medical research company’s stock valued at $7,598,000 after buying an additional 1,241 shares in the last quarter. Galvin Gaustad & Stein LLC boosted its position in shares of Amgen by 19.9% in the fourth quarter. Galvin Gaustad & Stein LLC now owns 2,288 shares of the medical research company’s stock valued at $596,000 after acquiring an additional 380 shares during the period. Baron Silver Stevens Financial Advisors LLC grew its stake in Amgen by 10.5% during the fourth quarter. Baron Silver Stevens Financial Advisors LLC now owns 834 shares of the medical research company’s stock valued at $217,000 after acquiring an additional 79 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in Amgen during the 4th quarter worth approximately $150,000. Finally, Raleigh Capital Management Inc. lifted its stake in Amgen by 29.1% in the 4th quarter. Raleigh Capital Management Inc. now owns 4,779 shares of the medical research company’s stock worth $1,246,000 after purchasing an additional 1,077 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $275.42 on Friday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a market cap of $148.05 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The business has a 50 day moving average price of $271.55 and a 200-day moving average price of $306.24.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the company posted $4.96 EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts predict that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The firm 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 dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 121.90%.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $324.00 price target on shares of Amgen in a research report on Friday. Bank of America restated an “underperform” rating and set a $256.00 target price on shares of Amgen in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Redburn Partners cut their price objective on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Two research 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $314.65.

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.