Sax Wealth Advisors LLC Makes New $252,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Sax Wealth Advisors LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 968 shares of the medical research company’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen in the third quarter worth $29,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the 2nd quarter worth $30,000. Matrix Trust Co acquired a new stake in Amgen in the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Amgen during the third quarter worth about $56,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 1.0 %

AMGN opened at $272.11 on Monday. The company has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The business’s fifty day moving average is $273.95 and its two-hundred day moving average is $307.20. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm 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%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 EPS. Analysts anticipate that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMGN shares. Barclays increased their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Wolfe Research started coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. UBS Group decreased their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $314.91.

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.