Godshalk Welsh Capital Management Inc. Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Godshalk Welsh Capital Management Inc. purchased a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 715 shares of the medical research company’s stock, valued at approximately $206,000.

Other hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. acquired a new position in shares of Amgen in the 4th quarter valued at $29,000. Providence Capital Advisors LLC acquired a new position in shares of Amgen during the 3rd quarter valued at $30,000. Planned Solutions Inc. acquired a new position in shares of Amgen during the 4th quarter valued at $30,000. Delos Wealth Advisors LLC lifted its holdings in shares of Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Finally, Hartford Financial Management Inc. lifted its holdings in shares of Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. UBS Group boosted their price objective on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Mizuho boosted their price objective on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Royal Bank of Canada cut their price objective on shares of Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $305.65.

Amgen Price Performance

Shares of NASDAQ:AMGN traded down $0.66 during trading on Friday, reaching $305.84. The company had a trading volume of 2,425,864 shares, compared to its average volume of 2,869,476. The firm’s fifty day moving average is $285.02 and its 200 day moving average is $285.61. The firm has a market capitalization of $164.06 billion, a PE ratio of 43.69, a price-to-earnings-growth ratio of 2.76 and a beta of 0.60. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.98 EPS. On average, equities analysts forecast that Amgen Inc. will post 19.47 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.94%. Amgen’s dividend payout ratio is currently 128.57%.

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.