Horizon Wealth Management LLC Buys 143 Shares of Amgen Inc. (NASDAQ:AMGN)

Horizon Wealth Management LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 13.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,217 shares of the medical research company’s stock after acquiring an additional 143 shares during the period. Horizon Wealth Management LLC’s holdings in Amgen were worth $317,000 at the end of the most recent reporting period.

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

Amgen Stock Up 3.0 %

Shares of Amgen stock traded up $7.96 during trading on Monday, reaching $270.19. The company’s stock had a trading volume of 3,271,542 shares, compared to its average volume of 3,085,018. The company has a 50-day simple moving average of $279.10 and a two-hundred day simple moving average of $308.66. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a market cap of $145.24 billion, a price-to-earnings ratio of 34.60, a P/E/G ratio of 2.91 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.96 EPS. As a group, equities analysts forecast that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The business 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 is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.52%. Amgen’s dividend payout ratio is presently 121.90%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMGN. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Bank of America restated an “underperform” rating and set a $256.00 price target on shares of Amgen in a report on Tuesday, December 10th. Citigroup reduced their target price on shares of Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Redburn Partners dropped their price target on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus 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.