Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 44.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,998 shares of the medical research company’s stock after buying an additional 1,546 shares during the period. Lebenthal Global Advisors LLC’s holdings in Amgen were worth $1,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Foundations Investment Advisors LLC increased its stake in shares of Amgen by 35.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 22,616 shares of the medical research company’s stock worth $5,895,000 after purchasing an additional 5,960 shares in the last quarter. Ridgecrest Wealth Partners LLC increased its holdings in shares of Amgen by 5.7% in the fourth quarter. Ridgecrest Wealth Partners LLC now owns 4,427 shares of the medical research company’s stock valued at $1,154,000 after purchasing an additional 239 shares during the last quarter. McLean Asset Management Corp raised its holdings in shares of Amgen by 12.7% during the 4th quarter. McLean Asset Management Corp now owns 1,040 shares of the medical research company’s stock worth $271,000 after acquiring an additional 117 shares during the period. United Asset Strategies Inc. raised its stake in Amgen by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 32,413 shares of the medical research company’s stock worth $8,448,000 after purchasing an additional 820 shares during the period. Finally, Cornerstone Wealth Group LLC raised its position in shares of Amgen by 2.8% during the 4th quarter. Cornerstone Wealth Group LLC now owns 13,307 shares of the medical research company’s stock valued at $3,468,000 after buying an additional 363 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMGN shares. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Barclays boosted their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Piper Sandler lowered their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $314.65.

Amgen Stock Performance

Shares of AMGN opened at $282.95 on Tuesday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a market cap of $152.09 billion, a P/E ratio of 36.23, a PEG ratio of 2.78 and a beta of 0.56. 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 company has a 50-day moving average of $271.39 and a two-hundred day moving average of $305.81.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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 firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.96 EPS. As a group, research analysts predict that Amgen Inc. will post 19.56 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 paid a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.36%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.