Inlet Private Wealth LLC Acquires 401 Shares of Amgen Inc. (NASDAQ:AMGN)

Inlet Private Wealth LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,832 shares of the medical research company’s stock after buying an additional 401 shares during the quarter. Amgen comprises approximately 1.6% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 15th biggest position. Inlet Private Wealth LLC’s holdings in Amgen were worth $6,212,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased 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 valued at $9,446,236,000 after purchasing an additional 345,537 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Amgen by 0.9% during 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 2.4% during the third 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 acquiring an additional 251,876 shares during the last quarter. Janus Henderson Group PLC raised its position in 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 during the last quarter. Finally, Pathway Financial Advisers LLC raised its position in 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 worth $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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMGN. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Wolfe Research started coverage on shares of Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $314.00.

Amgen Price Performance

AMGN opened at $285.42 on Friday. The firm has a 50-day moving average price of $271.06 and a 200-day moving average price of $304.53. Amgen Inc. has a twelve month low of $253.30 and a twelve month 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 company has a market capitalization of $153.42 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.85 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating 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 business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the business earned $4.96 EPS. Amgen’s revenue was up 23.2% compared to the same quarter last year. Equities analysts expect that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The business also recently disclosed 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 is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.34%. Amgen’s dividend payout ratio is 115.24%.

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.