Occidental Asset Management LLC Purchases 1,074 Shares of Amgen Inc. (NASDAQ:AMGN)

Occidental Asset Management LLC raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,973 shares of the medical research company's stock after purchasing an additional 1,074 shares during the period. Occidental Asset Management LLC's holdings in Amgen were worth $3,381,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Empirical Asset Management LLC lifted its holdings in shares of Amgen by 81.3% during the 4th quarter. Empirical Asset Management LLC now owns 7,040 shares of the medical research company's stock valued at $1,835,000 after purchasing an additional 3,156 shares in the last quarter. Bennett Associates Wealth Management acquired a new stake in Amgen during the 4th quarter worth approximately $422,000. JGP Wealth Management LLC lifted its stake in Amgen by 3.1% in the fourth quarter. JGP Wealth Management LLC now owns 54,470 shares of the medical research company's stock valued at $14,197,000 after buying an additional 1,614 shares in the last quarter. Carnegie Investment Counsel boosted its holdings in shares of Amgen by 5.4% in the fourth quarter. Carnegie Investment Counsel now owns 104,819 shares of the medical research company's stock valued at $27,320,000 after buying an additional 5,399 shares during the period. Finally, Tallon Kerry Patrick bought a new stake in shares of Amgen during the fourth quarter worth $270,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ AMGN traded up $3.21 during trading on Friday, hitting $272.64. 1,788,218 shares of the company's stock were exchanged, compared to its average volume of 2,978,638. The company has a market cap of $146.55 billion, a PE ratio of 34.90, a P/E/G ratio of 2.68 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock's 50 day moving average price is $276.06 and its two-hundred day moving average price is $307.76.

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. The company had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business's quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.96 earnings per share. Research analysts expect that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.49%. Amgen's dividend payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research reports. Citigroup lowered their target price on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Royal Bank of Canada decreased their price objective on Amgen from $360.00 to $330.00 and set an "outperform" rating for the company in a report on Wednesday, November 27th. Piper Sandler cut their target price on Amgen from $344.00 to $310.00 and set an "overweight" rating on the stock in a research note on Thursday, January 2nd. StockNews.com cut shares of Amgen from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus price target of $314.91.

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.