Beaumont Financial Advisors LLC Buys 48 Shares of Amgen Inc. (NASDAQ:AMGN)

Beaumont Financial Advisors LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 4,757 shares of the medical research company’s stock after acquiring an additional 48 shares during the period. Beaumont Financial Advisors LLC’s holdings in Amgen were worth $1,370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Amgen during the 3rd quarter valued at about $26,000. Briaud Financial Planning Inc purchased a new stake in shares of Amgen during the 3rd quarter valued at about $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Amgen during the 1st quarter valued at about $28,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amgen during the 4th quarter valued at about $29,000. Finally, Providence Capital Advisors LLC purchased a new stake in shares of Amgen during the 3rd quarter valued at about $30,000. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN stock opened at $268.93 on Friday. 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 company has a market capitalization of $144.25 billion, a P/E ratio of 21.53, a P/E/G ratio of 2.44 and a beta of 0.58. The company’s 50-day simple moving average is $276.90 and its two-hundred day simple moving average is $281.26. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.09 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.35%. Amgen’s dividend payout ratio is currently 72.06%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMGN. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group upped their target price on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, UBS Group decreased their target price on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $296.95.

About Amgen

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.