Diversify Wealth Management LLC Acquires 2,162 Shares of Amgen Inc. (NASDAQ:AMGN)

Diversify Wealth Management LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 46.5% during the fourth quarter, Holdings Channel reports. The firm owned 6,809 shares of the medical research company’s stock after purchasing an additional 2,162 shares during the period. Diversify Wealth Management LLC’s holdings in Amgen were worth $1,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Guardian Investment Management lifted its holdings in Amgen by 29.5% in the 4th quarter. Guardian Investment Management now owns 18,358 shares of the medical research company’s stock worth $4,785,000 after purchasing an additional 4,179 shares during the last quarter. Grove Bank & Trust lifted its stake in shares of Amgen by 3.5% in the fourth quarter. Grove Bank & Trust now owns 2,750 shares of the medical research company’s stock worth $717,000 after buying an additional 93 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in shares of Amgen during the 4th quarter worth $1,245,000. My Legacy Advisors LLC grew its stake in Amgen by 5.0% in the 4th quarter. My Legacy Advisors LLC now owns 3,065 shares of the medical research company’s stock valued at $824,000 after buying an additional 147 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. raised its holdings in Amgen by 0.6% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 70,450 shares of the medical research company’s stock worth $18,362,000 after acquiring an additional 434 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AMGN shares. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Leerink Partners lowered their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. TD Cowen upped their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Barclays increased their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Bank of America restated an “underperform” rating and set a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. Two investment 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, Amgen has an average rating of “Hold” and a consensus price target of $314.91.

Amgen Price Performance

Shares of AMGN stock opened at $272.11 on Tuesday. The firm’s 50 day moving average price is $273.95 and its two-hundred day moving average price is $307.18. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a market cap of $146.27 billion, a PE ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $4.96 EPS. As a group, analysts forecast that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. Amgen’s dividend payout ratio is 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.