Golden State Equity Partners Purchases 4,981 Shares of Amgen Inc. (NASDAQ:AMGN)

Golden State Equity Partners raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2,862.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,155 shares of the medical research company's stock after purchasing an additional 4,981 shares during the period. Golden State Equity Partners' holdings in Amgen were worth $1,344,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company's stock worth $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Amgen by 0.9% in the third 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 buying an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Amgen by 2.4% during 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 in the last quarter. Janus Henderson Group PLC raised its holdings 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 acquiring an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC lifted its position in Amgen by 33,125.4% in the 3rd 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 acquiring an additional 4,446,757 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN traded up $1.40 on Friday, reaching $285.42. The company had a trading volume of 3,799,348 shares, compared to its average volume of 2,746,697. The stock has a market cap of $153.42 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.85 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company's fifty day moving average is $271.06 and its 200 day moving average is $304.33.

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, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.50 billion. During the same period last year, the firm posted $4.96 EPS. The firm's revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, analysts predict that Amgen Inc. will post 19.56 earnings per share for the current fiscal 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 given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.34%. This is an increase from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen's payout ratio is presently 121.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They set an "outperform" rating and a $380.00 target price for the company. Wolfe Research started coverage on Amgen in a research report on Friday, November 15th. They issued a "peer perform" rating on the stock. Redburn Partners cut their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Truist Financial decreased their price target on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Finally, Piper Sandler Companies reissued an "overweight" rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $314.00.

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.