ORG Wealth Partners LLC Purchases 118 Shares of Amgen Inc. (NASDAQ:AMGN)

ORG Wealth Partners LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 10.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,227 shares of the medical research company’s stock after purchasing an additional 118 shares during the quarter. ORG Wealth Partners LLC’s holdings in Amgen were worth $320,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMGN. State Street Corp lifted its position in Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after buying an additional 345,537 shares during the period. Geode Capital Management LLC increased its stake in shares of Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after purchasing an additional 251,876 shares during the period. Janus Henderson Group PLC boosted its stake in Amgen by 11.7% in 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 period. Finally, Pathway Financial Advisers LLC lifted its position in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 0.8 %

AMGN traded down $2.14 on Friday, reaching $262.07. 794,808 shares of the company traded hands, compared to its average volume of 2,724,287. The stock’s 50 day moving average price is $280.24 and its 200-day moving average price is $309.15. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market cap of $140.87 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.91 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The business 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 is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is currently 121.90%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMGN shares. Sanford C. Bernstein assumed coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Piper Sandler lowered their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Redburn Partners cut their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Finally, TD Cowen lifted their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $314.91.

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.