Purus Wealth Management LLC Increases Position in Amgen Inc. (NASDAQ:AMGN)

Purus Wealth Management LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,387 shares of the medical research company’s stock after buying an additional 84 shares during the quarter. Amgen comprises about 0.9% of Purus Wealth Management LLC’s portfolio, making the stock its 28th largest holding. Purus Wealth Management LLC’s holdings in Amgen were worth $2,186,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Ascent Group LLC lifted its position in shares of Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares during the last quarter. Cadinha & Co. LLC lifted its holdings in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 32 shares in the last quarter. Lansing Street Advisors grew its stake in Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after purchasing an additional 32 shares in the last quarter. Unionview LLC raised its position in Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after purchasing an additional 32 shares in the last quarter. Finally, Traveka Wealth LLC lifted its holdings in shares of Amgen by 4.3% in the 3rd quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $272.11 on Monday. The firm has a market capitalization of $146.27 billion, a P/E ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. The stock has a 50-day simple moving average of $273.95 and a two-hundred day simple moving average of $307.20. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released 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 net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the business earned $4.96 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. On average, equities analysts forecast that Amgen Inc. will post 19.57 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. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 115.24%.

Analysts Set New Price Targets

Several research firms recently weighed in on AMGN. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. TD Cowen boosted their price objective 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. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Finally, Redburn Partners cut their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.