Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 25.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,145 shares of the medical research company's stock after purchasing an additional 3,236 shares during the quarter. Perigon Wealth Management LLC's holdings in Amgen were worth $4,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Magnolia Capital Advisors LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at $486,000. Northwestern Mutual Wealth Management Co. grew its holdings in Amgen by 3.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 51,851 shares of the medical research company's stock worth $16,199,000 after purchasing an additional 1,920 shares during the period. Regal Investment Advisors LLC boosted its position in shares of Amgen by 1.5% in the second quarter. Regal Investment Advisors LLC now owns 4,171 shares of the medical research company's stock valued at $1,303,000 after acquiring an additional 63 shares during the period. EP Wealth Advisors LLC lifted its stake in Amgen by 25.5% during the second quarter. EP Wealth Advisors LLC now owns 29,828 shares of the medical research company's stock worth $9,320,000 after purchasing an additional 6,059 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in Amgen by 2.0% in the 2nd quarter. Pathway Financial Advisers LLC now owns 13,424 shares of the medical research company's stock worth $4,159,000 after purchasing an additional 257 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMGN. Cantor Fitzgerald reiterated an "overweight" rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Truist Financial reduced their target price on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. StockNews.com cut Amgen from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 18th. Citigroup lowered their price objective on Amgen from $310.00 to $295.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on Amgen from $335.00 to $280.00 and set an "equal weight" rating for the company in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $314.00.

Amgen Stock Up 0.5 %

Shares of AMGN traded up $1.38 on Wednesday, reaching $281.68. The stock had a trading volume of 2,451,885 shares, compared to its average volume of 3,051,681. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a 50-day simple moving average of $271.48 and a 200-day simple moving average of $305.15. The firm has a market capitalization of $151.41 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its 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 business had revenue of $8.50 billion during 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 revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business earned $4.96 EPS. Sell-side analysts predict that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The business 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 $2.38 dividend. This is an increase from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, February 14th. Amgen's dividend payout ratio is currently 115.24%.

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.