Horizon Wealth Management LLC Acquires 143 Shares of Amgen Inc. (NASDAQ:AMGN)

Horizon Wealth Management LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 13.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,217 shares of the medical research company’s stock after acquiring an additional 143 shares during the quarter. Horizon Wealth Management LLC’s holdings in Amgen were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in Amgen by 0.8% during the 2nd quarter. Parallel Advisors LLC now owns 9,210 shares of the medical research company’s stock valued at $2,878,000 after buying an additional 70 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Amgen by 8.2% in the second quarter. Envestnet Asset Management Inc. now owns 1,408,785 shares of the medical research company’s stock worth $440,175,000 after purchasing an additional 107,134 shares during the last quarter. Seven Mile Advisory increased its holdings in Amgen by 15.3% during the 2nd quarter. Seven Mile Advisory now owns 852 shares of the medical research company’s stock valued at $266,000 after purchasing an additional 113 shares during the period. Hanson & Doremus Investment Management raised its position in Amgen by 3.6% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,592 shares of the medical research company’s stock valued at $497,000 after purchasing an additional 55 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in Amgen by 49.4% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 38,677 shares of the medical research company’s stock valued at $12,085,000 after purchasing an additional 12,784 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $7.96 during midday trading on Monday, hitting $270.19. The company had a trading volume of 3,271,542 shares, compared to its average volume of 3,085,018. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a fifty day moving average of $279.10 and a two-hundred day moving average of $308.66. The company has a market cap of $145.24 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.91 and a beta of 0.56. 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 (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the company posted $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities research analysts expect that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.52%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 121.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Leerink Partners reduced their price target on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Piper Sandler lowered their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Redburn Partners reduced their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Bank of America reissued an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $314.91.

Amgen Company 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.