Secure Asset Management LLC Boosts Stake in Amgen Inc. (NASDAQ:AMGN)

Secure Asset Management LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 138.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,248 shares of the medical research company’s stock after purchasing an additional 1,305 shares during the quarter. Secure Asset Management LLC’s holdings in Amgen were worth $586,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Red Door Wealth Management LLC lifted its position in Amgen by 4.4% during the fourth quarter. Red Door Wealth Management LLC now owns 29,151 shares of the medical research company’s stock valued at $7,598,000 after buying an additional 1,241 shares during the period. Galvin Gaustad & Stein LLC increased its stake in shares of Amgen by 19.9% in the 4th quarter. Galvin Gaustad & Stein LLC now owns 2,288 shares of the medical research company’s stock worth $596,000 after acquiring an additional 380 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC lifted its position in Amgen by 10.5% during the 4th quarter. Baron Silver Stevens Financial Advisors LLC now owns 834 shares of the medical research company’s stock valued at $217,000 after acquiring an additional 79 shares during the period. Endeavor Private Wealth Inc. bought a new stake in Amgen during the fourth quarter worth about $150,000. Finally, Raleigh Capital Management Inc. grew its holdings in Amgen by 29.1% in the fourth quarter. Raleigh Capital Management Inc. now owns 4,779 shares of the medical research company’s stock worth $1,246,000 after purchasing an additional 1,077 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMGN. Bank of America reissued an “underperform” rating and issued a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. Truist Financial dropped 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. Deutsche Bank Aktiengesellschaft reduced their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Citigroup dropped their price target on shares of Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Finally, Barclays raised their price objective 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. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus target price of $314.65.

Amgen Trading Down 0.9 %

Shares of NASDAQ:AMGN opened at $275.42 on Friday. The stock’s 50-day simple moving average is $271.55 and its two-hundred day simple moving average is $306.24. The stock has a market capitalization of $148.05 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.78 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.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. 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 firm posted $4.96 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. Analysts expect that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The business 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. This represents a $9.52 annualized dividend and a dividend yield of 3.46%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. 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.