Sound Income Strategies LLC Acquires 293 Shares of Amgen Inc. (NASDAQ:AMGN)

Sound Income Strategies LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 59.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 784 shares of the medical research company’s stock after acquiring an additional 293 shares during the quarter. Sound Income Strategies LLC’s holdings in Amgen were worth $204,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Ascent Group LLC increased its position 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 acquiring an additional 31 shares during the period. Cadinha & Co. LLC increased its position in Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 32 shares during the period. Lansing Street Advisors increased its position in Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares during the period. Unionview LLC increased its position in Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after acquiring an additional 32 shares during the period. Finally, Traveka Wealth LLC increased 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 worth $260,000 after acquiring an additional 33 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 0.9 %

Shares of NASDAQ AMGN opened at $275.42 on Friday. The company has a 50 day simple moving average of $271.55 and a 200 day simple moving average of $306.24. The firm has a market cap of $148.05 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. 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 (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business earned $4.96 EPS. On average, research analysts forecast that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMGN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Piper Sandler reduced their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 price objective on shares of Amgen in a research note on Friday. UBS Group reduced their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Truist Financial reduced their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $314.65.

About Amgen

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.