Amgen Inc. (NASDAQ:AMGN) Stock Holdings Increased by Concord Wealth Partners

Concord Wealth Partners raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 36.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,741 shares of the medical research company’s stock after acquiring an additional 1,809 shares during the period. Concord Wealth Partners’ holdings in Amgen were worth $1,941,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Briaud Financial Planning Inc acquired a new position in shares of Amgen during the 3rd quarter valued at $26,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Amgen during the 4th quarter valued at $29,000. OFI Invest Asset Management acquired a new position in shares of Amgen during the 3rd quarter valued at $26,000. Planned Solutions Inc. acquired a new position in shares of Amgen during the 4th quarter valued at $30,000. Finally, Providence Capital Advisors LLC acquired a new position in shares of Amgen during the 3rd quarter valued at $30,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.8 %

Shares of NASDAQ:AMGN traded up $5.05 on Wednesday, reaching $278.99. The company had a trading volume of 1,196,499 shares, compared to its average volume of 2,796,387. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The stock has a 50-day moving average price of $274.76 and a 200 day moving average price of $281.37. The stock has a market capitalization of $149.64 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.67 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share 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 company 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 firm earned $4.09 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts expect that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. Amgen’s payout ratio is presently 72.06%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMGN. Royal Bank of Canada restated an “outperform” rating and issued a $329.00 target price on shares of Amgen in a report on Wednesday, April 3rd. The Goldman Sachs Group lifted their target price on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Morgan Stanley decreased their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Truist Financial restated a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Finally, Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average target price of $297.40.

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.