Mitchell & Pahl Private Wealth LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Mitchell & Pahl Private Wealth LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 7.5% in the first quarter, Holdings Channel reports. The fund owned 6,317 shares of the medical research company’s stock after purchasing an additional 438 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Amgen were worth $1,968,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in shares of Amgen in the fourth quarter valued at $25,000. Pinney & Scofield Inc. bought a new position in Amgen during the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE raised its position in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC bought a new stake in Amgen in the fourth quarter worth about $34,000. Finally, Atala Financial Inc purchased a new position in shares of Amgen during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Citigroup reiterated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Royal Bank of Canada cut their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald initiated coverage on shares of Amgen in a report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective for the company. Finally, Piper Sandler dropped their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $309.22.

Amgen Stock Up 1.2%

Shares of Amgen stock opened at $287.02 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market cap of $154.33 billion, a P/E ratio of 38.02, a PEG ratio of 2.63 and a beta of 0.51. The firm’s 50 day moving average price is $283.46 and its 200-day moving average price is $285.23. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period in the previous year, the company earned $3.96 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 86.86%.

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.