Cerro Pacific Wealth Advisors LLC Buys 1,391 Shares of Amgen Inc. (NASDAQ:AMGN)

Cerro Pacific Wealth Advisors LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 40.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,871 shares of the medical research company’s stock after purchasing an additional 1,391 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Amgen were worth $1,270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new stake in Amgen in the 3rd quarter worth approximately $25,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen in the second quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the third quarter worth $29,000. Matrix Trust Co bought a new stake in shares of Amgen during the 3rd quarter valued at $36,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Amgen during the 3rd quarter valued at $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Bank of America reissued an “underperform” rating and set a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Citigroup dropped their price target on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. UBS Group reduced their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Redburn Partners dropped their target price on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two equities 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $314.91.

Amgen Stock Up 1.6 %

Shares of NASDAQ AMGN opened at $277.88 on Friday. The company has a market cap of $149.37 billion, a P/E ratio of 35.58, a PEG ratio of 2.79 and a beta of 0.56. The firm has a 50-day simple moving average of $271.91 and a two-hundred day simple moving average of $306.43. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. 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 posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the business earned $4.96 EPS. Amgen’s revenue was up 23.2% compared to the same quarter last year. Research analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current 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 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 dividend on an annualized basis and a yield of 3.43%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Amgen Company 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.