Amgen Inc. (NASDAQ:AMGN) Position Boosted by Diversify Wealth Management LLC

Diversify Wealth Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 46.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,809 shares of the medical research company’s stock after buying an additional 2,162 shares during the quarter. Diversify Wealth Management LLC’s holdings in Amgen were worth $1,786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen in the third quarter valued at approximately $29,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the second quarter valued at approximately $30,000. Matrix Trust Co bought a new stake in shares of Amgen in the 3rd quarter worth approximately $36,000. Finally, Livelsberger Financial Advisory acquired a new position in Amgen during the 3rd quarter valued at approximately $56,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMGN. Redburn Partners cut their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Bank of America restated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research report on Tuesday, December 10th. Wolfe Research started coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Leerink Partners lowered their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, William Blair reiterated 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 assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $314.91.

Amgen Stock Performance

Shares of AMGN opened at $272.11 on Tuesday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a 50-day moving average of $273.95 and a two-hundred day moving average of $307.18. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The stock has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. 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 EPS. On average, equities research analysts expect that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

About Amgen

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.