Amgen Inc. (NASDAQ:AMGN) Stock Position Boosted by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC boosted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 238,856 shares of the medical research company's stock after purchasing an additional 7,684 shares during the quarter. Amgen makes up approximately 2.1% of Daymark Wealth Partners LLC's investment portfolio, making the stock its 10th largest holding. Daymark Wealth Partners LLC's holdings in Amgen were worth $62,255,000 at the end of the most recent reporting period.

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

Amgen Trading Up 1.0 %

Shares of AMGN opened at $274.81 on Wednesday. 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 firm has a 50-day moving average price of $272.47 and a 200 day moving average price of $306.67. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a market capitalization of $147.72 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results 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 net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the firm earned $4.96 EPS. The business's revenue was up 23.2% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen's previous quarterly dividend of $2.25. Amgen's dividend payout ratio is 115.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMGN shares. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They issued a "peer perform" rating on the stock. Barclays lifted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. UBS Group cut their price objective on Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Finally, 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 note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $314.91.

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.

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