Hennessy Advisors Inc. Acquires 250 Shares of Amgen Inc. (NASDAQ:AMGN)

Hennessy Advisors Inc. raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,350 shares of the medical research company’s stock after purchasing an additional 250 shares during the quarter. Hennessy Advisors Inc.’s holdings in Amgen were worth $3,480,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new position in Amgen in the 4th quarter worth about $117,000. Occidental Asset Management LLC increased its position in shares of Amgen by 9.0% during the fourth quarter. Occidental Asset Management LLC now owns 12,973 shares of the medical research company’s stock worth $3,381,000 after acquiring an additional 1,074 shares during the period. Empirical Asset Management LLC increased its position in shares of Amgen by 81.3% during the fourth quarter. Empirical Asset Management LLC now owns 7,040 shares of the medical research company’s stock worth $1,835,000 after acquiring an additional 3,156 shares during the period. Bennett Associates Wealth Management bought a new stake in shares of Amgen during the fourth quarter valued at approximately $422,000. Finally, JGP Wealth Management LLC boosted its holdings in shares of Amgen by 3.1% in the fourth quarter. JGP Wealth Management LLC now owns 54,470 shares of the medical research company’s stock valued at $14,197,000 after purchasing an additional 1,614 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AMGN. Barclays lifted their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $314.91.

Amgen Stock Up 1.0 %

NASDAQ:AMGN opened at $272.11 on Friday. 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 Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a market cap of $146.27 billion, a PE ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The company’s 50 day moving average is $275.01 and its two-hundred day moving average is $307.49.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.96 earnings per share. Analysts anticipate that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.