Mission Wealth Management LP Has $3.62 Million Position in Amgen Inc. (NASDAQ:AMGN)

Mission Wealth Management LP raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,553 shares of the medical research company’s stock after acquiring an additional 1,022 shares during the period. Mission Wealth Management LP’s holdings in Amgen were worth $3,616,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AMGN. OFI Invest Asset Management acquired a new stake in shares of Amgen during the third quarter worth $26,000. Briaud Financial Planning Inc acquired a new position in Amgen during the 3rd quarter worth approximately $26,000. BOK Financial Private Wealth Inc. bought a new stake in Amgen during the 4th quarter worth approximately $29,000. Providence Capital Advisors LLC bought a new stake in shares of Amgen in the 3rd quarter valued at $30,000. Finally, Planned Solutions Inc. bought a new position in Amgen during the fourth quarter worth $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 0.9 %

AMGN traded down $2.44 during trading on Tuesday, hitting $273.94. 2,474,726 shares of the stock traded hands, compared to its average volume of 2,816,730. The firm has a 50-day moving average of $274.96 and a 200 day moving average of $281.45. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The firm has a market capitalization of $146.94 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.09 EPS. Equities research analysts anticipate that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $329.00 target price on shares of Amgen in a research report on Wednesday, April 3rd. Raymond James started coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. StockNews.com lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Finally, Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently 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.