Solidarity Wealth LLC Buys New Position in Amgen Inc. (NASDAQ:AMGN)

Solidarity Wealth LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,211 shares of the medical research company’s stock, valued at approximately $1,098,000.

Several other large investors also recently added to or reduced their stakes in the business. Ascent Group LLC grew its position in Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares during the period. Cadinha & Co. LLC boosted its position in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares during the period. Lansing Street Advisors boosted its position in shares of Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after purchasing an additional 32 shares during the period. Unionview LLC boosted its position in shares of Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares during the period. Finally, Traveka Wealth LLC boosted its position in shares of Amgen by 4.3% in the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after purchasing an additional 33 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMGN. TD Cowen upped their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Redburn Partners lowered their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Barclays upped 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. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Amgen presently has an average rating of “Hold” and an average target price of $314.91.

Amgen Stock Performance

Shares of Amgen stock opened at $272.11 on Tuesday. The firm has a market capitalization of $146.27 billion, a P/E ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company has a 50 day moving average price of $273.95 and a 200 day moving average price of $307.18. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 earnings per share. The company’s revenue was up 23.2% compared to the same quarter last year. Sell-side analysts expect that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. Amgen’s payout ratio is currently 121.90%.

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.