ORG Wealth Partners LLC Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

ORG Wealth Partners LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,227 shares of the medical research company’s stock after purchasing an additional 118 shares during the period. ORG Wealth Partners LLC’s holdings in Amgen were worth $320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swiss National Bank raised its position in shares of Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after buying an additional 5,500 shares in the last quarter. Asset Advisors Investment Management LLC raised its holdings in shares of Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after purchasing an additional 2,954 shares in the last quarter. Principal Financial Group Inc. boosted its position in Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after acquiring an additional 35,785 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after purchasing an additional 1,872 shares in the last quarter. Finally, Napa Wealth Management purchased a new stake in Amgen in the third quarter valued at about $1,104,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMGN has been the subject of several research analyst reports. TD Cowen raised their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft lowered their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Citigroup lowered their price objective on shares of Amgen from $335.00 to $310.00 in a research note 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $314.91.

Amgen Stock Down 0.8 %

Shares of Amgen stock traded down $2.14 on Friday, hitting $262.07. The company had a trading volume of 794,808 shares, compared to its average volume of 2,724,287. The firm has a market capitalization of $140.87 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.91 and a beta of 0.56. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The stock has a 50-day moving average of $280.24 and a 200-day moving average of $309.15. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

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 net margin of 13.00% and a return on equity of 168.35%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the business posted $4.96 earnings per share. Research analysts predict that Amgen Inc. will post 19.53 earnings per share 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. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.63%. Amgen’s dividend payout ratio is presently 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.