Johnson & White Wealth Management LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Johnson & White Wealth Management LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 106.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,069 shares of the medical research company’s stock after buying an additional 1,069 shares during the quarter. Johnson & White Wealth Management LLC’s holdings in Amgen were worth $536,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AMGN. Capital Performance Advisors LLP purchased a new position in Amgen in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the third quarter worth approximately $29,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen during the second quarter worth approximately $30,000. Matrix Trust Co purchased a new position in shares of Amgen during the third quarter worth approximately $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen during the third quarter worth $56,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Barclays raised their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Two investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $314.91.

Amgen Price Performance

Shares of AMGN opened at $270.19 on Tuesday. The company has a market cap of $145.24 billion, a P/E ratio of 34.60, a PEG ratio of 2.91 and a beta of 0.56. The stock has a fifty day moving average price of $278.16 and a 200 day moving average price of $308.35. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company earned $4.96 earnings per share. On average, research analysts forecast that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.52%. This is a positive change 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 121.90%.

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.