GSB Wealth Management LLC Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

GSB Wealth Management LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,978 shares of the medical research company’s stock after purchasing an additional 721 shares during the quarter. GSB Wealth Management LLC’s holdings in Amgen were worth $3,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Amgen in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen in the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the 2nd quarter valued at about $30,000. Matrix Trust Co acquired a new position in shares of Amgen in the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Amgen in the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Piper Sandler reduced their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company reduced their price target on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Redburn Partners reduced their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $314.65.

Amgen Stock Performance

AMGN stock opened at $275.42 on Friday. The business’s 50-day moving average price is $271.39 and its two-hundred day moving average price is $305.99. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm has a market cap of $148.05 billion, a PE ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. 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 results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $4.96 earnings per share. As a group, research analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 3.46%. 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. 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.