Concord Wealth Partners Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

Concord Wealth Partners boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 36.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,741 shares of the medical research company’s stock after buying an additional 1,809 shares during the quarter. Concord Wealth Partners’ holdings in Amgen were worth $1,941,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of AMGN. International Assets Investment Management LLC bought a new stake in shares of Amgen during the fourth quarter worth $4,589,900,000. Assenagon Asset Management S.A. raised its holdings in shares of Amgen by 486.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after acquiring an additional 745,929 shares in the last quarter. abrdn plc grew its stake in Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after purchasing an additional 626,810 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Amgen by 11.4% during the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock worth $1,365,213,000 after buying an additional 518,689 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Amgen by 22.0% during the 4th quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after buying an additional 490,539 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.8 %

Shares of NASDAQ AMGN traded up $5.05 during mid-day trading on Wednesday, reaching $278.99. 1,196,499 shares of the company’s stock were exchanged, compared to its average volume of 2,796,387. The firm has a market capitalization of $149.64 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.67 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The company’s 50-day moving average is $274.76 and its 200-day moving average is $281.37.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.09 EPS. Analysts expect that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.23%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AMGN shares. SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. Raymond James began coverage on Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. The Goldman Sachs Group increased their price objective on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $297.40.

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.