Dynamic Advisor Solutions LLC Acquires 4,094 Shares of Amgen Inc. (NASDAQ:AMGN)

Dynamic Advisor Solutions LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 18.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,337 shares of the medical research company’s stock after purchasing an additional 4,094 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Amgen were worth $6,864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. apricus wealth LLC grew its holdings in shares of Amgen by 2.9% during the 4th quarter. apricus wealth LLC now owns 12,648 shares of the medical research company’s stock worth $3,297,000 after purchasing an additional 356 shares in the last quarter. AM Investment Strategies LLC lifted its position in Amgen by 12.5% during the fourth quarter. AM Investment Strategies LLC now owns 8,402 shares of the medical research company’s stock worth $2,190,000 after purchasing an additional 931 shares during the period. Nepsis Inc. grew its stake in Amgen by 10.5% during the fourth quarter. Nepsis Inc. now owns 65,972 shares of the medical research company’s stock worth $17,195,000 after buying an additional 6,257 shares in the last quarter. Carr Financial Group Corp increased its holdings in Amgen by 2.6% in the 4th quarter. Carr Financial Group Corp now owns 3,189 shares of the medical research company’s stock valued at $831,000 after buying an additional 81 shares during the period. Finally, Atlas Private Wealth Advisors raised its position in shares of Amgen by 0.7% in the 4th quarter. Atlas Private Wealth Advisors now owns 5,665 shares of the medical research company’s stock valued at $1,476,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several analyst reports. UBS Group reduced their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company reduced their target price on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Piper Sandler reduced their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $314.65.

Amgen Stock Performance

Shares of AMGN stock opened at $275.42 on Friday. 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 one year low of $253.30 and a one year high of $346.85. The business’s 50 day simple moving average is $271.39 and its 200 day simple moving average is $305.99. The stock has a market capitalization of $148.05 billion, a PE ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping 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 net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.96 earnings per share. As a group, research analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.46%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 121.90%.

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.