Ibex Wealth Advisors Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Ibex Wealth Advisors grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 14.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 26,963 shares of the medical research company’s stock after acquiring an additional 3,460 shares during the quarter. Ibex Wealth Advisors’ holdings in Amgen were worth $7,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp increased its position in shares of Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Geode Capital Management LLC increased its position in Amgen by 0.9% during the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after buying an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after buying an additional 251,876 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC increased its holdings in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN traded up $1.80 on Wednesday, hitting $282.10. 128,950 shares of the company’s stock were exchanged, compared to its average volume of 2,919,739. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a fifty day moving average of $271.48 and a two-hundred day moving average of $305.15. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a market cap of $151.64 billion, a PE ratio of 36.17, a P/E/G ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during 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 company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.96 earnings per share. On average, research analysts anticipate that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.37%. This is an increase 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 is 115.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Wolfe Research assumed coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Bank of America reaffirmed an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $314.00.

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.