1,620 Shares in Amgen Inc. (NASDAQ:AMGN) Acquired by Bennett Associates Wealth Management

Bennett Associates Wealth Management purchased a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,620 shares of the medical research company’s stock, valued at approximately $422,000.

Several other hedge funds have also recently bought and sold shares of AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the third quarter valued at approximately $29,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter worth approximately $30,000. Matrix Trust Co acquired a new position in Amgen during the 3rd quarter worth $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen in the 3rd quarter valued at approximately $56,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Piper Sandler dropped their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Royal Bank of Canada reduced their price target on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $314.91.

Amgen Trading Up 0.2 %

Shares of NASDAQ:AMGN opened at $269.43 on Friday. The company has a 50-day simple moving average of $276.06 and a 200 day simple moving average of $307.76. The company has a market capitalization of $144.83 billion, a P/E ratio of 34.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. 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 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last released 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 company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm posted $4.96 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. 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 3.53%. Amgen’s dividend payout ratio is presently 115.24%.

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.