Laurel Wealth Advisors LLC Has $6.41 Million Position in Amgen Inc. (NASDAQ:AMGN)

Laurel Wealth Advisors LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,591 shares of the medical research company’s stock after acquiring an additional 486 shares during the period. Amgen comprises approximately 1.0% of Laurel Wealth Advisors LLC’s portfolio, making the stock its 24th biggest holding. Laurel Wealth Advisors LLC’s holdings in Amgen were worth $6,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after acquiring an additional 345,537 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 valued at $3,893,771,000 after buying an additional 103,851 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Amgen by 2.4% during the 3rd 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 acquiring an additional 251,876 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC grew 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 valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of several research analyst reports. Barclays upped their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. TD Cowen raised their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Piper Sandler dropped their target price 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. Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Finally, Leerink Partners reduced their price target on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned 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, the stock currently has an average rating of “Hold” and a consensus price target of $314.91.

Amgen Stock Down 1.1 %

Shares of NASDAQ AMGN opened at $267.10 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm has a market capitalization of $143.58 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 2.91 and a beta of 0.56. The business has a 50-day moving average of $277.12 and a 200-day moving average of $308.03.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.96 EPS. Sell-side analysts expect that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.56%. This is a boost 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 121.90%.

Amgen Company 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.