HB Wealth Management LLC Has $11.43 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

HB Wealth Management LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,854 shares of the medical research company's stock after purchasing an additional 1,768 shares during the period. HB Wealth Management LLC's holdings in Amgen were worth $11,430,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanibel Captiva Trust Company Inc. grew its position in shares of Amgen by 0.7% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 80,892 shares of the medical research company's stock worth $21,084,000 after buying an additional 588 shares in the last quarter. Howard Financial Services LTD. grew its holdings in Amgen by 32.5% during the 4th quarter. Howard Financial Services LTD. now owns 2,780 shares of the medical research company's stock worth $725,000 after acquiring an additional 682 shares in the last quarter. Alhambra Investment Management LLC increased its position in shares of Amgen by 6.9% in the 4th quarter. Alhambra Investment Management LLC now owns 3,825 shares of the medical research company's stock worth $997,000 after purchasing an additional 246 shares during the last quarter. Verity & Verity LLC raised its stake in shares of Amgen by 5.6% in the 4th quarter. Verity & Verity LLC now owns 92,490 shares of the medical research company's stock valued at $24,107,000 after purchasing an additional 4,895 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management raised its stake in shares of Amgen by 4.6% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 14,157 shares of the medical research company's stock valued at $3,690,000 after purchasing an additional 623 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analyst Weigh In

AMGN has been the subject of several research analyst reports. Robert W. Baird reissued an "underperform" rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Leerink Partners dropped their price target on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Barclays boosted their price objective 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. Finally, Piper Sandler Companies reiterated an "overweight" rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Two equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $314.91.

Amgen Price Performance

Shares of AMGN traded up $2.68 during midday trading on Friday, reaching $272.11. The stock had a trading volume of 3,244,015 shares, compared to its average volume of 3,140,853. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a market capitalization of $146.27 billion, a P/E ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The firm's 50 day moving average price is $273.95 and its 200-day moving average price is $307.20. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping 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 firm had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.50 billion. During the same period in the previous year, the business earned $4.96 earnings per share. Amgen's revenue for the quarter was up 23.2% compared to the same quarter last year. On average, analysts forecast that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced 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 represents a $9.52 annualized dividend and a dividend yield of 3.50%. This is an increase from Amgen's previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen's dividend payout ratio is currently 115.24%.

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.