Ridgewood Investments LLC Buys 2,056 Shares of Amgen Inc. (NASDAQ:AMGN)

Ridgewood Investments LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 11,422.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,074 shares of the medical research company’s stock after purchasing an additional 2,056 shares during the period. Ridgewood Investments LLC’s holdings in Amgen were worth $541,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AMGN. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter worth about $25,000. Strategic Financial Concepts LLC bought a new stake in Amgen in the second quarter worth about $26,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the third quarter worth about $29,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter worth about $30,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen in the third quarter valued at approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.8 %

Shares of Amgen stock traded down $2.13 during trading on Friday, reaching $262.08. The company’s stock had a trading volume of 761,652 shares, compared to its average volume of 2,714,780. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market cap of $140.88 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.91 and a beta of 0.56. The firm’s 50-day moving average is $280.24 and its two-hundred day moving average is $309.15. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the company earned $4.96 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The firm 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 is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.63%. Amgen’s dividend payout ratio is 121.90%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Royal Bank of Canada lowered their price target on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Truist Financial lowered their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average price target of $314.91.

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.