Gilliland Jeter Wealth Management LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,461 shares of the medical research company’s stock, valued at approximately $421,000.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Amgen by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after buying an additional 165,636 shares during the last quarter. Northern Trust Corp boosted its holdings in Amgen by 3.8% in the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after purchasing an additional 255,463 shares during the period. Bank of New York Mellon Corp boosted its holdings in Amgen by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,437,182 shares of the medical research company’s stock valued at $1,461,297,000 after purchasing an additional 61,528 shares during the period. Royal Bank of Canada boosted its holdings in Amgen by 11.4% in the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after purchasing an additional 518,689 shares during the period. Finally, Invesco Ltd. boosted its holdings in Amgen by 15.9% in the 3rd quarter. Invesco Ltd. now owns 3,356,359 shares of the medical research company’s stock valued at $902,055,000 after purchasing an additional 459,340 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock traded up $0.60 on Friday, hitting $269.98. The company’s stock had a trading volume of 2,436,959 shares, compared to its average volume of 2,035,139. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The stock’s 50 day moving average is $275.10 and its 200-day moving average is $281.45. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a market capitalization of $144.81 billion, a PE ratio of 21.62, a PEG ratio of 2.60 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the prior year, the company posted $4.09 earnings per share. Amgen’s revenue was up 19.8% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.33%. Amgen’s dividend payout ratio is 72.06%.

Analyst Ratings Changes

AMGN has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. 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 report on Wednesday, April 17th. Finally, Raymond James began coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.95.

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.