Austin Private Wealth LLC Has $744,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Austin Private Wealth LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 19.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,854 shares of the medical research company’s stock after buying an additional 473 shares during the period. Austin Private Wealth LLC’s holdings in Amgen were worth $744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen in the 3rd quarter worth $29,000. Matrix Trust Co bought a new position in shares of Amgen in the 3rd quarter worth $36,000. Livelsberger Financial Advisory bought a new position in shares of Amgen in the 3rd quarter worth $56,000. Finally, Kennebec Savings Bank bought a new position in shares of Amgen in the 3rd quarter worth $57,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN opened at $285.42 on Friday. The business has a 50 day moving average of $271.24 and a 200-day moving average of $304.84. 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 stock has a market cap 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 Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the business posted $4.96 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities research analysts expect that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.34%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Citigroup reduced their target price on Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays lifted their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus target price of $314.00.

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.