Altus Wealth Group LLC Has $923,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Altus Wealth Group LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 10.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,204 shares of the medical research company’s stock after buying an additional 308 shares during the quarter. Altus Wealth Group LLC’s holdings in Amgen were worth $923,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Amgen during the 3rd quarter worth about $26,000. Briaud Financial Planning Inc acquired a new stake in Amgen in the 3rd quarter worth about $26,000. VisionPoint Advisory Group LLC acquired a new stake in Amgen in the 2nd quarter worth about $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Amgen in the 1st quarter worth about $28,000. Finally, Providence Capital Advisors LLC acquired a new stake in Amgen in the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 1.0 %

Shares of NASDAQ AMGN traded down $2.72 during midday trading on Friday, reaching $267.28. The stock had a trading volume of 2,140,134 shares, compared to its average volume of 2,594,482. The firm has a market cap of $143.24 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 2.55 and a beta of 0.58. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The company’s 50 day moving average price is $280.76 and its 200 day moving average price is $281.38.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the company earned $4.09 EPS. Amgen’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, sell-side analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.37%. Amgen’s payout ratio is presently 72.06%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group dropped their price objective on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. Oppenheimer reissued an “outperform” rating and issued a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. Raymond James assumed coverage on shares of Amgen in a report on Thursday, March 28th. They issued a “market perform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $329.00 target price on shares of Amgen in a report on Wednesday, April 3rd. Finally, StockNews.com lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $295.30.

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.