Golden State Wealth Management LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Golden State Wealth Management LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,832 shares of the medical research company’s stock, valued at approximately $478,000.

A number of other hedge funds have also bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen in the third quarter valued at $25,000. Legacy Investment Solutions LLC bought a new position in Amgen in the 3rd quarter worth about $29,000. Heck Capital Advisors LLC purchased a new position in Amgen during the 4th quarter valued at about $36,000. Livelsberger Financial Advisory bought a new stake in shares of Amgen during the third quarter valued at about $56,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Amgen in the third quarter worth about $57,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $293.54 on Friday. The company has a fifty day simple moving average of $272.04 and a 200-day simple moving average of $303.51. The firm has a market capitalization of $157.79 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 2.87 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.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 168.35% and a net margin of 13.00%. On average, equities analysts anticipate that Amgen Inc. will post 19.56 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. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.24%. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada restated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Piper Sandler cut their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Sanford C. Bernstein started coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $313.23.

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.