Flywheel Private Wealth LLC Purchases New Shares in Amgen Inc. (NASDAQ:AMGN)

Flywheel Private Wealth LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,305 shares of the medical research company’s stock, valued at approximately $340,000.

Several other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Amgen during the third quarter valued at approximately $25,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the 2nd quarter valued at $30,000. Legacy Investment Solutions LLC bought a new position in Amgen in the 3rd quarter valued at $29,000. Matrix Trust Co purchased a new stake in Amgen in the third quarter worth $36,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Amgen during the third quarter worth $56,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. Leerink Partners cut their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Citigroup reduced their target price on shares of Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Barclays lifted their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. UBS Group dropped their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Royal Bank of Canada decreased their target price on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $314.91.

Amgen Price Performance

NASDAQ AMGN opened at $268.94 on Thursday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm’s fifty day simple moving average is $277.12 and its two-hundred day simple moving average is $308.03. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm has a market capitalization of $144.56 billion, a P/E ratio of 34.44, a P/E/G ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the business earned $4.96 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. Analysts forecast that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The business 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 is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

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.