Pines Wealth Management LLC Acquires New Holdings in Amgen Inc. (NASDAQ:AMGN)

Pines Wealth Management LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,775 shares of the medical research company’s stock, valued at approximately $1,252,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter valued at approximately $25,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen in the 2nd quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the third quarter worth $29,000. Matrix Trust Co bought a new position in Amgen during the third quarter worth $36,000. Finally, Livelsberger Financial Advisory acquired a new position in Amgen in the third quarter valued at $56,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on AMGN shares. Wells Fargo & Company cut their target price on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Barclays boosted their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Royal Bank of Canada dropped their price objective on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $267.10 on Wednesday. The company has a 50 day moving average of $277.12 and a 200 day moving average of $308.03. 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 stock has a market cap of $143.58 billion, a P/E ratio of 34.20, a P/E/G ratio of 2.91 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) 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 company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the business posted $4.96 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is a positive change 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 3.56%. Amgen’s payout ratio is presently 121.90%.

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.