Mattern Wealth Management LLC Has $2.41 Million Position in Amgen Inc. (NASDAQ:AMGN)

Mattern Wealth Management LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,230 shares of the medical research company’s stock after buying an additional 246 shares during the quarter. Mattern Wealth Management LLC’s holdings in Amgen were worth $2,406,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC grew its stake in shares of Amgen by 33,125.4% in 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 buying an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC grew its position in Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Amgen by 561.5% during the 3rd 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 purchasing an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC lifted its stake in shares of Amgen by 9,058.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after purchasing an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in 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 purchasing an additional 676,598 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Bank of America reiterated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a report on Tuesday, December 10th. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, TD Cowen boosted their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Two investment 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 stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus price target of $314.65.

Amgen Stock Performance

Amgen stock opened at $282.95 on Tuesday. The firm has a fifty day simple moving average of $271.39 and a two-hundred day simple moving average of $305.81. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a market capitalization of $152.09 billion, a PE ratio of 36.23, a P/E/G ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the company posted $4.96 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Research analysts expect that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Friday, February 14th. This is an increase 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.