Naviter Wealth LLC Buys 659 Shares of Amgen Inc. (NASDAQ:AMGN)

Naviter Wealth LLC raised its position in Amgen Inc. (NASDAQ:AMGN) by 21.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,679 shares of the medical research company’s stock after purchasing an additional 659 shares during the period. Naviter Wealth LLC’s holdings in Amgen were worth $1,060,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AMGN. Investment House LLC boosted its position in Amgen by 0.5% during the fourth quarter. Investment House LLC now owns 28,405 shares of the medical research company’s stock valued at $8,181,000 after acquiring an additional 145 shares during the last quarter. Chase Investment Counsel Corp bought a new stake in shares of Amgen during the 4th quarter valued at about $386,000. Choreo LLC grew its stake in Amgen by 4.9% during the fourth quarter. Choreo LLC now owns 3,851 shares of the medical research company’s stock worth $1,109,000 after purchasing an additional 180 shares during the period. McAdam LLC bought a new stake in Amgen in the fourth quarter worth approximately $208,000. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Amgen by 7.8% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,424 shares of the medical research company’s stock valued at $698,000 after buying an additional 176 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMGN. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. Raymond James began coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. TD Cowen cut their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group boosted their target price on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.40.

Amgen Stock Performance

NASDAQ AMGN opened at $275.32 on Tuesday. The company has a fifty day moving average price of $274.96 and a 200-day moving average price of $281.45. The firm has a market cap of $147.68 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.61 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.09 earnings per share. As a group, equities research analysts predict that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

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.