Perigon Wealth Management LLC Raises Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Perigon Wealth Management LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,145 shares of the medical research company’s stock after acquiring an additional 3,236 shares during the period. Perigon Wealth Management LLC’s holdings in Amgen were worth $4,350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jeppson Wealth Management LLC lifted its stake in shares of Amgen by 30.4% during the 4th quarter. Jeppson Wealth Management LLC now owns 3,487 shares of the medical research company’s stock worth $909,000 after purchasing an additional 812 shares during the period. Matrix Asset Advisors Inc. NY increased its stake in Amgen by 96.0% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 93,022 shares of the medical research company’s stock valued at $24,245,000 after purchasing an additional 45,573 shares during the last quarter. YHB Investment Advisors Inc. lifted its position in Amgen by 1.4% during the fourth quarter. YHB Investment Advisors Inc. now owns 43,514 shares of the medical research company’s stock worth $11,341,000 after buying an additional 601 shares during the period. Mattern Wealth Management LLC boosted its stake in Amgen by 2.7% in the 4th quarter. Mattern Wealth Management LLC now owns 9,230 shares of the medical research company’s stock worth $2,406,000 after buying an additional 246 shares during the last quarter. Finally, BankPlus Wealth Management LLC purchased a new stake in Amgen in the 4th quarter valued at about $475,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of several recent analyst reports. Bank of America reiterated an “underperform” rating and set a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Barclays boosted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Finally, Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two investment 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 stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $314.00.

Amgen Stock Down 0.9 %

AMGN stock opened at $280.30 on Wednesday. The company has a market capitalization of $150.67 billion, a P/E ratio of 35.89, a PEG ratio of 2.78 and a beta of 0.56. The firm has a 50 day simple moving average of $271.47 and a 200-day simple moving average of $305.51. The company has a current ratio of 1.32, a quick ratio of 0.96 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.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the firm earned $4.96 EPS. The company’s revenue was up 23.2% on a year-over-year basis. On average, equities research analysts predict that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company 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 $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is 121.90%.

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.