Octavia Wealth Advisors LLC Purchases 41 Shares of Amgen Inc. (NASDAQ:AMGN)

Octavia Wealth Advisors LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 1.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,400 shares of the medical research company’s stock after acquiring an additional 41 shares during the period. Octavia Wealth Advisors LLC’s holdings in Amgen were worth $625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the third quarter valued at about $25,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the second quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the third quarter valued at about $29,000. Matrix Trust Co bought a new stake in shares of Amgen during the third quarter valued at about $36,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Amgen during the third quarter valued at about $56,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of Amgen stock opened at $274.81 on Wednesday. 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 cap of $147.72 billion, a PE ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56. The business has a 50 day moving average of $272.95 and a 200 day moving average of $306.92. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company 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 quarter in the prior year, the company earned $4.96 earnings per share. As a group, equities research analysts forecast that Amgen Inc. will post 19.57 earnings per share for the current 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 issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMGN shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Royal Bank of Canada cut their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Wells Fargo & Company cut their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Finally, Citigroup cut their price objective on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently 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.