Amgen Inc. (NASDAQ:AMGN) Position Boosted by RWA Wealth Partners LLC

RWA Wealth Partners LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 50.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,381 shares of the medical research company’s stock after purchasing an additional 9,541 shares during the quarter. RWA Wealth Partners LLC’s holdings in Amgen were worth $8,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sage Mountain Advisors LLC grew its holdings in Amgen by 6.9% in the 4th quarter. Sage Mountain Advisors LLC now owns 3,237 shares of the medical research company’s stock worth $932,000 after buying an additional 208 shares in the last quarter. Monument Capital Management grew its holdings in Amgen by 3.0% in the 4th quarter. Monument Capital Management now owns 2,236 shares of the medical research company’s stock worth $644,000 after buying an additional 66 shares in the last quarter. Kelman Lazarov Inc. bought a new position in Amgen in the 4th quarter worth approximately $209,000. Jennison Associates LLC grew its holdings in Amgen by 198.8% in the 4th quarter. Jennison Associates LLC now owns 650,637 shares of the medical research company’s stock worth $187,396,000 after buying an additional 432,871 shares in the last quarter. Finally, GUNN & Co INVESTMENT MANAGEMENT INC. grew its holdings in Amgen by 1,089.5% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 108,838 shares of the medical research company’s stock worth $31,348,000 after buying an additional 99,688 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent analyst reports. Truist Financial reissued a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group upped their target price on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $329.00 target price on shares of Amgen in a research report on Wednesday, April 3rd. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Price Performance

AMGN opened at $271.91 on Tuesday. The stock has a fifty day moving average of $276.45 and a 200-day moving average of $281.56. The firm has a market capitalization of $145.85 billion, a P/E ratio of 21.77, a PEG ratio of 2.50 and a beta of 0.58. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.09 earnings per share. Equities analysts forecast that Amgen Inc. will post 19.45 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.31%. Amgen’s payout ratio is currently 72.06%.

Amgen 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.