Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,421 shares of the medical research company’s stock after acquiring an additional 164 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Amgen were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

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

Amgen Stock Performance

Amgen stock opened at $274.81 on Wednesday. The stock has a fifty day moving average price of $272.95 and a 200 day moving average price of $306.92. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market capitalization of $147.72 billion, a P/E ratio of 35.19, a PEG ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping 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 company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the firm posted $4.96 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. Equities research analysts anticipate 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. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMGN. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Leerink Partners dropped their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Royal Bank of Canada dropped their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company decreased their target price on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $314.91.

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.