Veracity Capital LLC Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Veracity Capital LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 24.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,186 shares of the medical research company’s stock after buying an additional 234 shares during the period. Veracity Capital LLC’s holdings in Amgen were worth $309,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Secure Asset Management LLC raised its stake in Amgen by 138.4% in the fourth quarter. Secure Asset Management LLC now owns 2,248 shares of the medical research company’s stock valued at $586,000 after buying an additional 1,305 shares during the last quarter. Red Door Wealth Management LLC raised its position in shares of Amgen by 4.4% in the 4th quarter. Red Door Wealth Management LLC now owns 29,151 shares of the medical research company’s stock valued at $7,598,000 after purchasing an additional 1,241 shares during the last quarter. Galvin Gaustad & Stein LLC boosted its stake in Amgen by 19.9% in the 4th quarter. Galvin Gaustad & Stein LLC now owns 2,288 shares of the medical research company’s stock worth $596,000 after purchasing an additional 380 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC grew its position in Amgen by 10.5% during the 4th quarter. Baron Silver Stevens Financial Advisors LLC now owns 834 shares of the medical research company’s stock worth $217,000 after purchasing an additional 79 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in Amgen during the 4th quarter valued at approximately $150,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMGN. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 price objective on shares of Amgen in a report on Friday. Redburn Partners cut their price objective on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Barclays increased their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Bank of America restated an “underperform” rating and set a $256.00 price objective on shares of Amgen in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $314.65.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $275.42 on Friday. The firm has a fifty day moving average of $271.55 and a 200 day moving average of $306.24. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The firm has a market cap of $148.05 billion, a PE ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.96 earnings per share. As a group, research analysts predict that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced 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. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 121.90%.

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.