PFW Advisors LLC Takes New Stake in Amgen Inc.

PFW Advisors LLC has established a new investment in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to a recent filing with the Securities and Exchange Commission (SEC). In this financial move, the institutional investor acquired 4,238 shares of the well-known medical research firm, with a total value estimated at around $1,105,000.

In addition to PFW Advisors LLC, several other institutional investors and hedge funds have adjusted their positions in Amgen. For instance, Pathway Financial Advisers LLC significantly increased its stake in Amgen by a staggering 33,125.4% in the third quarter. After this acquisition, Pathway Financial Advisers now holds 4,460,181 shares, valued at approximately $1,437,115,000.

Similarly, International Assets Investment Management LLC raised its holding in Amgen by an impressive 6,812.4% in the same quarter. After purchasing an additional 2,486,882 shares, they now own 2,523,387 shares worth nearly $8,130,610,000. Assenagon Asset Management S.A. has also expanded its portfolio in Amgen by 561.5%, now owning 1,539,733 shares valued at $496,117,000 after acquiring an additional 1,306,982 shares.

Granite Bay Wealth Management LLC increased its position by 9,058.1% during the second quarter with 756,460 shares valued at $223,897,000 following the purchase of an extra 748,200 shares. Finally, Nordea Investment Management AB raised its holdings by 40.7% in the fourth quarter, possessing 2,338,665 shares worth $609,526,000, having bought 676,598 additional shares recently. Currently, institutional investors own approximately 76.50% of Amgen's stock.

New Analyst Price Targets

Various brokerage firms have recently provided updates on Amgen’s stock. Citigroup decreased its price target for Amgen shares from $335.00 to $310.00 on November 27th. On the other hand, TD Cowen increased their price objective for Amgen from $381.00 to $383.00 and assigned the stock a "buy" rating on October 21st.

Piper Sandler adjusted its target price down from $344.00 to $310.00, maintaining an "overweight" rating on the stock as of January 2nd. UBS Group also lowered its price target from $335.00 to $326.00, rating the stock as "neutral" on October 31st. Wolfe Research commenced coverage on Amgen on November 15th with a "peer perform" rating. To summarize the market sentiment, two analysts have given Amgen a sell rating, twelve recommended holding, thirteen rated it as a buy, and one provided a strong buy rating. MarketBeat data indicates that Amgen currently holds a consensus rating of "Hold" with an average price target at $314.91.

Amgen's Stock Movement

On Monday, shares of AMGN experienced a rise of 3.0%, trading up $7.96 to reach $270.19. The trading volume for the day was 3,364,979 shares, slightly above its average of 3,085,018 shares. Amgen Inc. has recorded a 52-week low of $253.30 and a high of $346.85. The company's market capitalization stands at $145.24 billion with a price-to-earnings (P/E) ratio of 34.60 and a P/E/G ratio of 2.91. Furthermore, it has a beta of 0.56, a debt-to-equity ratio of 7.55, a current ratio of 1.32, and a quick ratio of 0.96, with its fifty-day and two-hundred-day moving averages at $279.10 and $308.66, respectively.

Quarterly Earnings Report

Amgen announced its earnings results on October 30th, revealing earnings of $5.58 per share for the quarter, surpassing the consensus expectation of $5.11 by $0.47. The company enjoyed a net margin of 13.00% and a return on equity at a remarkable 168.35%. During the quarter, Amgen reported revenues of $8.50 billion, consistent with analysts' predictions. This reflected a 23.2% increase compared to the same quarter last year.

Amgen Increases Its Dividend

Additionally, Amgen has recently declared a quarterly dividend of $2.38 per share, set to be paid on March 7th. Shareholders who are on record by February 14th will receive this payment. This dividend shows an increase from the previous $2.25 per share payout. The ex-dividend date falls on February 14th. Annually, this represents a total of $9.52 in dividends, producing a yield of 3.52%. Meanwhile, Amgen's dividend payout ratio currently stands at 121.90%.

About Amgen

Amgen Inc. is a prominent player in the field of human therapeutics, focusing on the discovery, development, manufacture, and delivery of innovative solutions globally. The company’s key products include Enbrel for psoriasis and arthritis, Otezla for treatment of plaque psoriasis and other conditions, Prolia for osteoporosis, XGEVA for skeletal-related event prevention, and Repatha, which reduces the risk of heart-related issues. Other offerings include Nplate for immune thrombocytopenia, KYPROLIS for multiple myeloma, Aranesp for anemia, and several more targeted therapies for various health conditions.

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