Amgen Inc. (NASDAQ:AMGN) Shares Bought by SlateStone Wealth LLC

SlateStone Wealth LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 22.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,273 shares of the medical research company’s stock after acquiring an additional 3,125 shares during the period. SlateStone Wealth LLC’s holdings in Amgen were worth $4,975,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Southland Equity Partners LLC grew its position in shares of Amgen by 2.3% during the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after acquiring an additional 34 shares during the last quarter. Acropolis Investment Management LLC grew its position in shares of Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after acquiring an additional 34 shares during the last quarter. Opal Wealth Advisors LLC grew its position in shares of Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after acquiring an additional 34 shares during the last quarter. Marino Stram & Associates LLC grew its position in shares of Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after acquiring an additional 34 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC grew its position in shares of Amgen by 1.4% during the fourth quarter. FORVIS Wealth Advisors LLC now owns 2,578 shares of the medical research company’s stock worth $743,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMGN. Oppenheimer reiterated an “outperform” rating and issued a $350.00 target price on shares of Amgen in a research report on Thursday, February 1st. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Finally, UBS Group decreased their target price on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $296.95.

Amgen Price Performance

NASDAQ AMGN opened at $271.26 on Wednesday. The company has a 50 day simple moving average of $276.11 and a 200-day simple moving average of $281.61. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The firm has a market capitalization of $145.50 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 2.53 and a beta of 0.58. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same period in the prior year, the firm earned $4.09 earnings per share. The firm’s revenue was up 19.8% compared to the same quarter last year. Equities research analysts predict that Amgen Inc. will post 19.45 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company 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 $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.32%. Amgen’s dividend payout ratio (DPR) is currently 72.06%.

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.