Mattern Wealth Management LLC Buys 246 Shares of Amgen Inc. (NASDAQ:AMGN)

Mattern Wealth Management LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,230 shares of the medical research company’s stock after buying an additional 246 shares during the quarter. Mattern Wealth Management LLC’s holdings in Amgen were worth $2,406,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Magnolia Capital Advisors LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $486,000. NewEdge Advisors LLC raised its stake in shares of Amgen by 26.9% during the 2nd quarter. NewEdge Advisors LLC now owns 63,809 shares of the medical research company’s stock worth $19,937,000 after purchasing an additional 13,542 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Amgen by 3.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 51,851 shares of the medical research company’s stock worth $16,199,000 after acquiring an additional 1,920 shares during the period. Invst LLC purchased a new position in Amgen in the 2nd quarter valued at approximately $1,005,000. Finally, Regal Investment Advisors LLC grew its position in shares of Amgen by 1.5% in the second quarter. Regal Investment Advisors LLC now owns 4,171 shares of the medical research company’s stock valued at $1,303,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMGN shares. Deutsche Bank Aktiengesellschaft dropped their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Wells Fargo & Company reduced their price objective on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Bank of America reissued an “underperform” rating and set a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Finally, Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amgen has an average rating of “Hold” and an average price target of $314.65.

Amgen Stock Up 2.7 %

Shares of Amgen stock opened at $282.95 on Tuesday. Amgen Inc. has a twelve month low of $253.30 and a twelve 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. The business’s 50 day simple moving average is $271.39 and its 200-day simple moving average is $305.81. The stock has a market capitalization of $152.09 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its earnings results 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. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 earnings per share. Equities research analysts forecast that Amgen Inc. will post 19.56 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. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.36%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 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.