Bennett Associates Wealth Management Invests $422,000 in Amgen Inc. (NASDAQ:AMGN)

Bennett Associates Wealth Management acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,620 shares of the medical research company's stock, valued at approximately $422,000.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company's stock valued at $9,446,236,000 after buying an additional 345,537 shares during the last quarter. Geode Capital Management LLC increased its position in Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company's stock valued at $3,893,771,000 after acquiring an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company's stock worth $3,393,718,000 after acquiring an additional 251,876 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock worth $1,657,183,000 after purchasing an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Up 1.0 %

NASDAQ AMGN traded up $2.68 during trading hours on Friday, reaching $272.11. 3,244,015 shares of the company's stock were exchanged, compared to its average volume of 3,118,001. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a market capitalization of $146.27 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. The company's 50-day moving average is $275.01 and its two-hundred day moving average is $307.49. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.50 billion. During the same quarter in the prior year, the company earned $4.96 earnings per share. The business's quarterly revenue was up 23.2% compared to the same quarter last year. On average, analysts forecast that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This is an increase 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 3.50%. Amgen's dividend payout ratio (DPR) is currently 115.24%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research analyst reports. Bank of America restated an "underperform" rating and issued a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. Piper Sandler dropped their target price on Amgen from $344.00 to $310.00 and set an "overweight" rating for the company in a research report on Thursday, January 2nd. Redburn Partners cut their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They issued a "peer perform" rating for the company. Finally, Wells Fargo & Company dropped their price objective on Amgen from $335.00 to $280.00 and set an "equal weight" rating for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $314.91.

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.