Parr Mcknight Wealth Management Group LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Parr Mcknight Wealth Management Group LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,376 shares of the medical research company’s stock, valued at approximately $3,747,000.

A number of other large investors have also recently made changes to their positions in AMGN. Centricity Wealth Management LLC bought a new stake in Amgen during the 4th quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares in the last quarter. Synergy Investment Management LLC purchased a new position in shares of Amgen in the fourth quarter valued at about $34,000. Atala Financial Inc bought a new position in shares of Amgen in the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Amgen during the fourth quarter worth about $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 0.2%

Shares of NASDAQ:AMGN opened at $271.90 on Friday. The firm has a market capitalization of $146.20 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The business has a 50 day simple moving average of $287.76 and a two-hundred day simple moving average of $287.05. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period last year, the company earned $3.96 EPS. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. Amgen’s dividend payout ratio (DPR) is 86.86%.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Cantor Fitzgerald initiated coverage on Amgen in a report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price target for the company. Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. UBS Group reissued a “neutral” rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Mizuho upped their price target on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $309.22.

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.