Drive Wealth Management LLC Buys Shares of 906 Amgen Inc. (NASDAQ:AMGN)

Drive Wealth Management LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 906 shares of the medical research company’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Magnolia Capital Advisors LLC bought a new position in shares of Amgen in the second quarter valued at approximately $486,000. NewEdge Advisors LLC boosted its holdings in shares of Amgen by 26.9% in the second quarter. NewEdge Advisors LLC now owns 63,809 shares of the medical research company’s stock valued at $19,937,000 after acquiring an additional 13,542 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Amgen by 3.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 51,851 shares of the medical research company’s stock valued at $16,199,000 after acquiring an additional 1,920 shares in the last quarter. Invst LLC bought a new position in shares of Amgen in the second quarter valued at approximately $1,005,000. Finally, Regal Investment Advisors LLC boosted its holdings in shares of Amgen by 1.5% in the second quarter. Regal Investment Advisors LLC now owns 4,171 shares of the medical research company’s stock valued at $1,303,000 after acquiring an additional 63 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN opened at $282.95 on Tuesday. The company’s fifty day moving average is $271.39 and its 200-day moving average is $305.81. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm has a market cap of $152.09 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 2.78 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 (NASDAQ:AMGN) last announced 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. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the business posted $4.96 EPS. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts expect that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.36%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Leerink Partners reduced their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. TD Cowen raised their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Redburn Partners reduced their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Finally, Citigroup reduced their target price on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Two 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $314.65.

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.