Ridgecrest Wealth Partners LLC Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

Ridgecrest Wealth Partners LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,427 shares of the medical research company’s stock after purchasing an additional 239 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Amgen were worth $1,154,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after buying an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Amgen by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after acquiring an additional 251,876 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC grew its position in Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $275.42 on Monday. The stock has a market capitalization of $148.05 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56. The business’s 50 day moving average is $271.39 and its two-hundred day moving average is $305.81. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the company posted $4.96 earnings per share. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 19.56 EPS 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 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 3.46%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AMGN shares. Leerink Partners lowered their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Piper Sandler cut their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Wolfe Research started coverage on shares of Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $314.65.

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.