Solidarity Wealth LLC Acquires New Stake in Amgen Inc. (NASDAQ:AMGN)

Solidarity Wealth LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,211 shares of the medical research company's stock, valued at approximately $1,098,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ascent Group LLC grew its stake in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company's stock worth $3,421,000 after purchasing an additional 31 shares during the last quarter. Cadinha & Co. LLC lifted its holdings in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company's stock worth $1,678,000 after buying an additional 32 shares during the period. Lansing Street Advisors grew its position in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company's stock valued at $832,000 after buying an additional 32 shares during the last quarter. Unionview LLC increased its stake in shares of Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company's stock valued at $282,000 after buying an additional 32 shares during the period. Finally, Traveka Wealth LLC raised its position in shares of Amgen by 4.3% during the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company's stock worth $260,000 after acquiring an additional 33 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMGN shares. Sanford C. Bernstein began coverage on shares of Amgen in a research report on Thursday, October 17th. They set an "outperform" rating and a $380.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of Amgen from $335.00 to $280.00 and set an "equal weight" rating for the company in a research report on Friday, January 10th. UBS Group dropped their target price on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group reiterated a "buy" rating and set a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Finally, TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Two equities 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $314.91.

Amgen Stock Up 1.0 %

Shares of NASDAQ:AMGN traded up $2.70 during mid-day trading on Tuesday, hitting $274.81. 3,927,929 shares of the company traded hands, compared to its average volume of 3,185,471. The stock has a market cap of $147.72 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56. The stock has a 50-day moving average price of $272.95 and a two-hundred day moving average price of $306.92. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. 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 (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (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 during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the business posted $4.96 EPS. The business's revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 represents a $9.52 annualized dividend and a dividend yield of 3.46%. This is a boost from Amgen's previous quarterly dividend of $2.25. Amgen's dividend payout ratio (DPR) 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.