IronOak Wealth LLC. Purchases New Position in Amgen Inc. (NASDAQ:AMGN)

IronOak Wealth LLC. purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, Holdings Channel.com reports. The firm purchased 1,199 shares of the medical research company’s stock, valued at approximately $313,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after acquiring an additional 339,522 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC lifted its position in Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock valued at $3,245,881,000 after purchasing an additional 352,143 shares during the last quarter. Capital International Investors lifted its position in Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after buying an additional 6,029,058 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Citigroup restated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group restated a “neutral” rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Bank of America raised their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada decreased their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus price target of $309.22.

Amgen Stock Up 2.9%

Shares of NASDAQ AMGN opened at $279.45 on Wednesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm has a market capitalization of $150.26 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.63 and a beta of 0.51. The stock has a 50 day moving average price of $285.23 and a 200 day moving average price of $285.81. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating 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 business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period in the previous year, the company posted $3.96 EPS. Amgen’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.41%. Amgen’s payout ratio is currently 86.86%.

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.