Naviter Wealth LLC Buys 659 Shares of Amgen Inc. (NASDAQ:AMGN)

Naviter Wealth LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 21.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,679 shares of the medical research company’s stock after purchasing an additional 659 shares during the period. Naviter Wealth LLC’s holdings in Amgen were worth $1,060,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Amgen during the third quarter valued at $26,000. Briaud Financial Planning Inc purchased a new stake in shares of Amgen during the 3rd quarter valued at about $26,000. BOK Financial Private Wealth Inc. purchased a new stake in Amgen during the fourth quarter valued at approximately $29,000. Providence Capital Advisors LLC bought a new position in Amgen in the third quarter worth approximately $30,000. Finally, Planned Solutions Inc. purchased a new position in shares of Amgen during the 4th quarter worth $30,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. Morgan Stanley reduced their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Finally, The Goldman Sachs Group increased their price objective on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $297.40.

Amgen Trading Down 0.4 %

AMGN stock opened at $275.32 on Tuesday. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The firm has a market cap of $147.68 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58. The firm has a fifty day moving average price of $274.96 and a 200 day moving average price of $281.45. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter in the previous year, the business earned $4.09 EPS. The company’s quarterly revenue was up 19.8% on a year-over-year basis. Sell-side analysts anticipate that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

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.