Cyndeo Wealth Partners LLC Raises Stake in Amgen Inc. (NASDAQ:AMGN)

Cyndeo Wealth Partners LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,142 shares of the medical research company’s stock after purchasing an additional 55 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Amgen were worth $558,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in Amgen in the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 3rd quarter worth approximately $29,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter valued at approximately $30,000. Matrix Trust Co purchased a new position in shares of Amgen in the 3rd quarter valued at approximately $36,000. Finally, Livelsberger Financial Advisory purchased a new position in Amgen during the third quarter valued at $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMGN shares. Citigroup lowered their price objective on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. UBS Group cut their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Leerink Partners lowered their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Redburn Partners lowered their price objective on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $314.65.

Amgen Stock Down 0.9 %

Shares of NASDAQ AMGN opened at $275.42 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market capitalization 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. The stock’s fifty day simple moving average is $271.39 and its two-hundred day simple moving average is $305.99. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

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 analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the firm earned $4.96 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, analysts expect that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.