Axxcess Wealth Management LLC Acquires 1,518 Shares of Amgen Inc. (NASDAQ:AMGN)

Axxcess Wealth Management LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,362 shares of the medical research company’s stock after purchasing an additional 1,518 shares during the period. Axxcess Wealth Management LLC’s holdings in Amgen were worth $4,425,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. J.W. Cole Advisors Inc. boosted its holdings in shares of Amgen by 11.7% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,785 shares of the medical research company’s stock valued at $748,000 after buying an additional 292 shares in the last quarter. Brown Advisory Inc. lifted its position in Amgen by 1.5% during the 3rd quarter. Brown Advisory Inc. now owns 344,853 shares of the medical research company’s stock valued at $92,683,000 after acquiring an additional 5,253 shares during the period. Rovin Capital UT ADV purchased a new position in Amgen during the 3rd quarter valued at about $360,000. Summit Wealth & Retirement Planning Inc. purchased a new position in Amgen during the 3rd quarter valued at about $208,000. Finally, Groesbeck Investment Management Corp NJ lifted its position in Amgen by 6.8% during the 3rd quarter. Groesbeck Investment Management Corp NJ now owns 3,588 shares of the medical research company’s stock valued at $964,000 after acquiring an additional 230 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

AMGN stock traded up $32.90 during midday trading on Friday, reaching $311.29. 9,644,682 shares of the company’s stock traded hands, compared to its average volume of 2,279,398. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The stock has a market cap of $166.97 billion, a P/E ratio of 44.47, a PEG ratio of 2.69 and a beta of 0.60. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The stock’s 50-day moving average is $274.95 and its 200 day moving average is $281.50.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 145.62%. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the prior year, the company earned $3.98 earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. As a group, analysts anticipate that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.89%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent research reports. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $230.00 to $300.00 in a research note on Friday. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday. TD Cowen reduced their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $305.05.

Amgen Company 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.