RWA Wealth Partners LLC Boosts Stake in Amgen Inc. (NASDAQ:AMGN)

RWA Wealth Partners LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 50.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,381 shares of the medical research company’s stock after purchasing an additional 9,541 shares during the quarter. RWA Wealth Partners LLC’s holdings in Amgen were worth $8,174,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Douglas Lane & Associates LLC raised its position in Amgen by 2.6% in the third quarter. Douglas Lane & Associates LLC now owns 15,275 shares of the medical research company’s stock valued at $4,105,000 after purchasing an additional 384 shares during the period. Ziegler Capital Management LLC raised its holdings in shares of Amgen by 3.1% in the 3rd quarter. Ziegler Capital Management LLC now owns 9,621 shares of the medical research company’s stock valued at $2,586,000 after buying an additional 290 shares during the period. Essex LLC purchased a new stake in shares of Amgen in the 3rd quarter valued at $228,000. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Amgen in the 3rd quarter valued at $238,000. Finally, Park Place Capital Corp raised its holdings in shares of Amgen by 4.9% in the 3rd quarter. Park Place Capital Corp now owns 6,953 shares of the medical research company’s stock valued at $1,869,000 after buying an additional 326 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMGN. Truist Financial reiterated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. UBS Group lowered their price objective on Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group upped their price objective on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. StockNews.com cut Amgen from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. Finally, Morgan Stanley lowered their price objective on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Up 1.1 %

AMGN opened at $271.91 on Tuesday. The business has a 50 day moving average price of $276.45 and a two-hundred day moving average price of $281.56. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The company has a market cap of $145.85 billion, a PE ratio of 21.77, a P/E/G ratio of 2.50 and a beta of 0.58. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.09 EPS. As a group, research analysts anticipate that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is 72.06%.

About Amgen

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.