Signal Advisors Wealth LLC Has $490,000 Position in Amgen Inc. (NASDAQ:AMGN)

Signal Advisors Wealth LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,881 shares of the medical research company’s stock after acquiring an additional 190 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Amgen were worth $490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. raised its stake in Amgen by 21.0% during the second quarter. Brown Brothers Harriman & Co. now owns 20,452 shares of the medical research company’s stock worth $6,390,000 after acquiring an additional 3,555 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of Amgen by 28.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 14,218 shares of the medical research company’s stock worth $4,442,000 after purchasing an additional 3,156 shares during the last quarter. WealthPLAN Partners LLC acquired a new stake in shares of Amgen during the 2nd quarter worth about $3,855,000. Luts & Greenleigh Group Inc. bought a new position in Amgen during the 2nd quarter valued at about $207,000. Finally, Alpha Financial Partners LLC acquired a new position in Amgen in the second quarter valued at about $244,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMGN shares. Wells Fargo & Company dropped their price objective on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Royal Bank of Canada dropped their price target on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Wolfe Research initiated coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $314.91.

Amgen Stock Down 1.1 %

Shares of Amgen stock opened at $267.10 on Wednesday. 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 12 month low of $253.30 and a 12 month high of $346.85. The stock has a market cap of $143.58 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The business has a fifty day simple moving average of $277.12 and a 200 day simple moving average of $308.03.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.96 EPS. Research analysts predict that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.56%. Amgen’s dividend payout ratio (DPR) 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.