Sound Income Strategies LLC Purchases 293 Shares of Amgen Inc. (NASDAQ:AMGN)

Sound Income Strategies LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 59.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 784 shares of the medical research company’s stock after purchasing an additional 293 shares during the quarter. Sound Income Strategies LLC’s holdings in Amgen were worth $204,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AMGN. Pathway Financial Advisers LLC raised its holdings in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after acquiring an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC increased its stake in shares of Amgen by 9,058.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after acquiring an additional 748,200 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after acquiring an additional 676,598 shares in the last quarter. 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. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. TD Cowen lifted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Piper Sandler reduced their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and an average target price of $314.65.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $275.42 on Friday. The company’s 50-day moving average is $271.55 and its 200 day moving average is $306.24. 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 market capitalization of $148.05 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.96 EPS. On average, equities research analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 121.90%.

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.