Alpha Wealth Funds LLC Invests $522,000 in Amgen Inc. (NASDAQ:AMGN)

Alpha Wealth Funds LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,004 shares of the medical research company's stock, valued at approximately $522,000. Amgen accounts for approximately 0.5% of Alpha Wealth Funds LLC's holdings, making the stock its 28th biggest position.

Other large investors also recently modified their holdings of the company. Centricity Wealth Management LLC purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the fourth quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new stake in shares of Amgen in the fourth quarter worth $34,000. Finally, Atala Financial Inc bought a new stake in shares of Amgen in the 4th quarter worth about $34,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Up 1.2%

Shares of AMGN stock traded up $3.48 on Friday, hitting $287.02. The company's stock had a trading volume of 5,437,576 shares, compared to its average volume of 2,813,486. The stock has a market capitalization of $154.33 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm's fifty day moving average price is $283.46 and its 200-day moving average price is $285.42. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same period in the previous year, the company earned $3.96 earnings per share. Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio is 86.86%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMGN shares. Bank of America boosted their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 5th. Cantor Fitzgerald assumed coverage on Amgen in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price objective for the company. Guggenheim assumed coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target for the company. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of "Hold" and a consensus price target of $309.22.

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.