Concord Wealth Partners Acquires 480 Shares of Amgen Inc. (NASDAQ:AMGN)

Concord Wealth Partners boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,004 shares of the medical research company’s stock after purchasing an additional 480 shares during the quarter. Concord Wealth Partners’ holdings in Amgen were worth $2,347,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the 3rd quarter worth $29,000. Matrix Trust Co bought a new stake in shares of Amgen in the 3rd quarter worth $36,000. Heck Capital Advisors LLC purchased a new stake in shares of Amgen in the fourth quarter valued at about $36,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Amgen during the third quarter valued at about $56,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 0.5 %

Shares of Amgen stock opened at $285.42 on Friday. The company’s 50-day moving average price is $271.06 and its 200-day moving average price is $304.53. 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 12-month low of $253.30 and a 12-month high of $346.85. The company has a market cap of $153.42 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.85 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.96 EPS. On average, equities analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.34%. 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 115.24%.

Analyst Ratings Changes

AMGN has been the subject of several analyst reports. Sanford C. Bernstein assumed coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective for the company. Barclays increased their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $314.00.

About Amgen

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.