Oak Harbor Wealth Partners LLC Increases Position in Amgen Inc. (NASDAQ:AMGN)

Oak Harbor Wealth Partners LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 35.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,369 shares of the medical research company’s stock after acquiring an additional 359 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Amgen were worth $394,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. acquired 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 approximately $30,000. Planned Solutions Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $30,000. Delos Wealth Advisors LLC lifted its holdings in Amgen by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. grew its stake in Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. TD Cowen decreased their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. SVB Leerink lowered 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 note on Wednesday, February 7th. Finally, UBS Group boosted their price target on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $305.65.

Amgen Trading Up 0.2 %

Shares of AMGN traded up $0.55 during mid-day trading on Friday, reaching $307.05. 446,004 shares of the company were exchanged, compared to its average volume of 2,811,371. The stock has a market capitalization of $164.71 billion, a PE ratio of 43.79, a PEG ratio of 2.80 and a beta of 0.60. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The business has a 50 day simple moving average of $284.28 and a two-hundred day simple moving average of $285.28.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the previous year, the firm posted $3.98 earnings per share. The business’s revenue was up 22.0% compared to the same quarter last year. On average, analysts predict that Amgen Inc. will post 19.46 earnings per share for the current fiscal 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. This represents a $9.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is 128.57%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.69% of the stock is owned by corporate insiders.

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.