Virginia Wealth Management Group Inc. Buys 78 Shares of Amgen Inc. (NASDAQ:AMGN)

Virginia Wealth Management Group Inc. boosted its position in Amgen Inc. (NASDAQ:AMGN) by 0.7% during the fourth quarter, Holdings Channel reports. The fund owned 11,464 shares of the medical research company’s stock after acquiring an additional 78 shares during the period. Amgen comprises 1.9% of Virginia Wealth Management Group Inc.’s holdings, making the stock its 29th biggest holding. Virginia Wealth Management Group Inc.’s holdings in Amgen were worth $2,988,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AMGN. Pathway Financial Advisers LLC grew its holdings in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC boosted its position in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after buying an additional 1,306,982 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after buying an additional 676,598 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of analyst reports. Wells Fargo & Company decreased their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Bank of America restated an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. Wolfe Research began coverage on shares of Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average price target of $314.00.

Amgen Stock Performance

Shares of AMGN opened at $289.02 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a market cap of $155.36 billion, a P/E ratio of 37.01, a P/E/G ratio of 2.87 and a beta of 0.56. The business’s 50 day moving average price is $270.95 and its 200-day moving average price is $303.82.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Equities research analysts anticipate that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.29%. Amgen’s payout ratio is 115.24%.

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.