Mitchell & Pahl Private Wealth LLC Acquires 676 Shares of Amgen Inc. (NASDAQ:AMGN)

Mitchell & Pahl Private Wealth LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,879 shares of the medical research company’s stock after purchasing an additional 676 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Amgen were worth $1,532,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ascent Group LLC lifted its stake in 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 raised its holdings in shares of 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 lifted its position in 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 during the last quarter. Unionview LLC boosted its stake in Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after buying an additional 32 shares in the last quarter. Finally, Traveka Wealth LLC grew its position in Amgen by 4.3% during the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock valued at $260,000 after acquiring an additional 33 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of Amgen stock opened at $272.11 on Tuesday. The stock has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. 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 Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm’s 50-day moving average is $273.95 and its 200 day moving average is $307.18.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts anticipate that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. Amgen’s dividend payout ratio is 121.90%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMGN. Truist Financial cut their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Citigroup dropped their target price on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Sanford C. Bernstein initiated coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price 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.