Insight Wealth Strategies LLC Purchases 1,863 Shares of Amgen Inc. (NASDAQ:AMGN)

Insight Wealth Strategies LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 14.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,596 shares of the medical research company’s stock after purchasing an additional 1,863 shares during the period. Insight Wealth Strategies LLC’s holdings in Amgen were worth $3,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after acquiring an additional 345,537 shares during the period. Geode Capital Management LLC raised its stake in Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after purchasing an additional 251,876 shares during the period. Janus Henderson Group PLC grew its position in shares of Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after purchasing an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Down 1.0 %

AMGN stock traded down $2.49 during midday trading on Monday, hitting $258.73. The stock had a trading volume of 1,898,037 shares, compared to its average volume of 2,366,886. The business has a fifty day moving average price of $284.63 and a two-hundred day moving average price of $310.47. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. 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 $139.08 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.96 earnings per share. On average, sell-side analysts predict that Amgen Inc. will post 19.53 earnings per share for the current fiscal 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 issued 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 3.68%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 121.90%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMGN shares. TD Cowen increased their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Royal Bank of Canada cut their price objective on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Leerink Partners cut their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $318.83.

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.