Fifth Third Wealth Advisors LLC Has $1.18 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Fifth Third Wealth Advisors LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,538 shares of the medical research company’s stock after purchasing an additional 204 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Amgen were worth $1,183,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the third quarter valued at approximately $29,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $30,000. Matrix Trust Co acquired a new position in shares of Amgen during the 3rd quarter worth approximately $36,000. Finally, Livelsberger Financial Advisory bought a new stake in Amgen in the 3rd quarter valued at $56,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $268.94 on Thursday. The company’s 50 day moving average price is $277.12 and its two-hundred day moving average price is $308.03. The firm has a market capitalization of $144.56 billion, a P/E ratio of 34.44, a P/E/G ratio of 2.91 and a beta of 0.56. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. 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 released its quarterly earnings data 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. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities analysts forecast 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. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.54%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 121.90%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMGN. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. UBS Group decreased their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Leerink Partners dropped their target price on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $314.91.

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.