Solidarity Wealth LLC Invests $1.10 Million in Amgen Inc. (NASDAQ:AMGN)

Solidarity Wealth LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,211 shares of the medical research company’s stock, valued at approximately $1,098,000.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after buying an additional 345,537 shares in the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Amgen by 2.4% during 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 purchasing an additional 251,876 shares in the last quarter. Janus Henderson Group PLC grew its position 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 purchasing an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC increased its stake in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AMGN shares. Citigroup lowered their price objective on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Robert W. Baird restated an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. UBS Group reduced their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Truist Financial dropped their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $314.91.

Amgen Stock Performance

Shares of Amgen stock opened at $272.11 on Tuesday. The firm has a market capitalization of $146.27 billion, a P/E ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. 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 Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm’s 50 day moving average is $273.95 and its two-hundred day moving average is $307.18.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.96 earnings per share. Research analysts forecast that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 121.90%.

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.