StrongBox Wealth LLC Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

StrongBox Wealth LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,649 shares of the medical research company’s stock after purchasing an additional 42 shares during the quarter. Amgen makes up about 1.3% of StrongBox Wealth LLC’s holdings, making the stock its 27th biggest position. StrongBox Wealth LLC’s holdings in Amgen were worth $3,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Ascent Group LLC boosted its holdings in shares of Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares in the last quarter. Cadinha & Co. LLC lifted its position in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the period. Lansing Street Advisors boosted its stake in Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares in the last quarter. Unionview LLC grew its holdings in Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares during the period. Finally, Traveka Wealth LLC increased its stake in shares of Amgen by 4.3% during the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock valued at $260,000 after purchasing an additional 33 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.7 %

Shares of AMGN stock opened at $268.94 on Thursday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. 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 firm’s 50 day moving average is $277.12 and its 200 day moving average is $308.03. The stock has a market capitalization of $144.56 billion, a P/E ratio of 34.44, a P/E/G ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its quarterly 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 business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the firm earned $4.96 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.54%. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMGN. Piper Sandler dropped their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $314.91.

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.