Pure Financial Advisors LLC Grows Stake in Amgen Inc. (NASDAQ:AMGN)

Pure Financial Advisors LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,503 shares of the medical research company’s stock after buying an additional 142 shares during the quarter. Pure Financial Advisors LLC’s holdings in Amgen were worth $913,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Amgen during the 3rd quarter valued at about $25,000. Hershey Financial Advisers LLC purchased a new stake in Amgen in the second quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the 3rd quarter valued at $29,000. Matrix Trust Co acquired a new stake in shares of Amgen in the third quarter worth $36,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Amgen during the third quarter worth $56,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Truist Financial cut their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Piper Sandler decreased their target price 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. Finally, Leerink Partners dropped their price target on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $314.91.

Amgen Stock Up 1.0 %

Shares of NASDAQ:AMGN opened at $274.81 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock has a market cap of $147.72 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The firm’s 50 day moving average price is $272.95 and its 200 day moving average price is $306.92.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.96 EPS. As a group, equities research analysts predict that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.46%. 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.