Diversify Wealth Management LLC Purchases 2,162 Shares of Amgen Inc. (NASDAQ:AMGN)

Diversify Wealth Management LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 46.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,809 shares of the medical research company's stock after acquiring an additional 2,162 shares during the quarter. Diversify Wealth Management LLC's holdings in Amgen were worth $1,786,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMGN shares. Royal Bank of Canada cut their target price 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. Bank of America restated an "underperform" rating and issued a $256.00 target price on shares of Amgen in a research report on Tuesday, December 10th. Wells Fargo & Company dropped their price target on shares of Amgen from $335.00 to $280.00 and set an "equal weight" rating on the stock in a research report on Friday, January 10th. UBS Group dropped their price objective on Amgen from $335.00 to $326.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Finally, TD Cowen raised their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Two investment 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $314.91.

Amgen Stock Up 1.0 %

Shares of AMGN traded up $2.70 during midday trading on Tuesday, reaching $274.81. 3,927,929 shares of the stock were exchanged, compared to its average volume of 3,185,471. The company has a market cap of $147.72 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56. The firm has a 50 day simple moving average of $272.95 and a 200-day simple moving average of $306.92. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

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

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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. This represents a $9.52 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, February 14th. Amgen's dividend payout ratio (DPR) is 115.24%.

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.