Bennett Associates Wealth Management Invests $422,000 in Amgen Inc. (NASDAQ:AMGN)

Bennett Associates Wealth Management purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,620 shares of the medical research company’s stock, valued at approximately $422,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen in the third quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new position in Amgen during the third quarter worth about $29,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the 2nd quarter worth about $30,000. Matrix Trust Co bought a new stake in Amgen in the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen during the 3rd quarter worth $56,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMGN shares. Piper Sandler cut their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Truist Financial reduced their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company reduced their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. Finally, Redburn Partners lowered their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $314.91.

Amgen Stock Up 0.2 %

Amgen stock opened at $269.43 on Friday. The firm has a market cap of $144.83 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm has a 50 day moving average price of $276.06 and a two-hundred day moving average price of $307.76.

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. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the business earned $4.96 earnings per share. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities analysts predict that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. 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. This represents a $9.52 annualized dividend and a yield of 3.53%. Amgen’s payout ratio is 115.24%.

About Amgen

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.