Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Butensky & Cohen Financial Security Inc.

Butensky & Cohen Financial Security Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,248 shares of the medical research company’s stock after acquiring an additional 312 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in Amgen were worth $4,235,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the third quarter valued at $29,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the second quarter worth $30,000. Matrix Trust Co purchased a new position in shares of Amgen during the third quarter valued at $36,000. Finally, Livelsberger Financial Advisory acquired a new position in Amgen during the third quarter valued at $56,000. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of Amgen stock opened at $272.11 on Friday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a market cap of $146.27 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. The firm has a fifty day moving average price of $275.01 and a two-hundred day moving average price of $307.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating 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 business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the company earned $4.96 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. Analysts expect that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The company also recently announced 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 represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. UBS Group lowered their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Piper Sandler cut their target price 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. Citigroup lowered their price target on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Finally, Bank of America reiterated an “underperform” rating and set a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.