Sax Wealth Advisors LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Sax Wealth Advisors LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 968 shares of the medical research company's stock, valued at approximately $252,000.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Amgen during the third quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the 3rd quarter worth $29,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the 2nd quarter valued at $30,000. Matrix Trust Co bought a new position in Amgen in the 3rd quarter worth $36,000. Finally, Livelsberger Financial Advisory acquired a new position in Amgen during the 3rd quarter worth $56,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Up 1.0 %

Shares of AMGN stock traded up $2.68 on Monday, reaching $272.11. 3,244,015 shares of the stock were exchanged, 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. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock has a market cap of $146.27 billion, a PE ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The stock has a 50 day moving average price of $273.95 and a 200 day moving average price of $307.18.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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 firm 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 company'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 EPS. Equities research analysts forecast that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This is a positive change from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, February 14th. Amgen's dividend payout ratio is currently 121.90%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMGN. Barclays raised their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Leerink Partners lowered their price objective on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut their target price on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Wells Fargo & Company lowered their price target on Amgen from $335.00 to $280.00 and set an "equal weight" rating on the stock in a research report on Friday, January 10th. Finally, UBS Group cut their price objective on Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, 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.