Flywheel Private Wealth LLC Acquires New Shares in Amgen Inc. (NASDAQ:AMGN)

Flywheel Private Wealth LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,305 shares of the medical research company’s stock, valued at approximately $340,000.

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

Amgen Stock Up 0.7 %

AMGN opened at $268.94 on Thursday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a 50-day simple moving average of $277.12 and a two-hundred day simple moving average of $308.03. The company has a market capitalization of $144.56 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released 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 return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts forecast that Amgen Inc. will post 19.53 earnings per share for the current fiscal 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 $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.54%. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research reports. UBS Group dropped their price objective 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. Piper Sandler cut their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Truist Financial decreased their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.