Mission Wealth Management LP Raises Stock Position in Amgen Inc. (NASDAQ:AMGN)

Mission Wealth Management LP increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 8.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,553 shares of the medical research company’s stock after buying an additional 1,022 shares during the quarter. Mission Wealth Management LP’s holdings in Amgen were worth $3,616,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. BIP Wealth LLC boosted its holdings in shares of Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after purchasing an additional 32 shares in the last quarter. Southland Equity Partners LLC boosted its holdings in shares of Amgen by 2.3% in the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after purchasing an additional 34 shares in the last quarter. Acropolis Investment Management LLC lifted its stake in shares of Amgen by 3.5% in the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after acquiring an additional 34 shares during the last quarter. Opal Wealth Advisors LLC lifted its stake in shares of Amgen by 1.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after acquiring an additional 34 shares during the last quarter. Finally, Marino Stram & Associates LLC lifted its stake in shares of Amgen by 0.7% in the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after acquiring an additional 34 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN traded down $2.44 during mid-day trading on Tuesday, reaching $273.94. 2,474,726 shares of the stock traded hands, compared to its average volume of 2,816,730. The firm has a fifty day moving average price of $274.96 and a 200 day moving average price of $281.45. The company has a market cap of $146.94 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.09 earnings per share. As a group, equities research analysts predict that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMGN. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Oppenheimer reiterated an “outperform” rating and issued a $350.00 price target on shares of Amgen in a research note on Thursday, February 1st. The Goldman Sachs Group raised their target price on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Finally, StockNews.com lowered Amgen from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $297.40.

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.