Parr Mcknight Wealth Management Group LLC Purchases New Holdings in Amgen Inc. (NASDAQ:AMGN)

Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 14,376 shares of the medical research company's stock, valued at approximately $3,747,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ascent Wealth Partners LLC boosted its stake in shares of Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock worth $2,352,000 after acquiring an additional 64 shares in the last quarter. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Amgen by 242.2% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock worth $6,255,000 after acquiring an additional 16,985 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Amgen by 285.4% during the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock worth $102,820,000 after acquiring an additional 292,137 shares in the last quarter. Aire Advisors LLC boosted its stake in shares of Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Amgen during the 4th quarter worth $3,531,000. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 0.1%

NASDAQ AMGN traded down $0.24 during trading on Friday, hitting $271.66. 2,531,997 shares of the company traded hands, compared to its average volume of 2,795,937. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The business has a fifty day simple moving average of $286.82 and a 200 day simple moving average of $286.23. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market capitalization of $146.07 billion, a P/E ratio of 35.98, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.96 earnings per share. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. Amgen's payout ratio is presently 86.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMGN shares. Cantor Fitzgerald started coverage on Amgen in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective for the company. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. Piper Sandler decreased their target price on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has a consensus 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.