Amgen (NASDAQ:AMGN) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Amgen (NASDAQ:AMGN – Get Rating) from an equal weight rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm currently has $265.00 target price on the medical research company’s stock, down from their previous target price of $275.00.

AMGN has been the topic of several other research reports. BMO Capital Markets cut their price target on Amgen from $276.00 to $253.00 and set a market perform rating on the stock in a research note on Wednesday, February 1st. Barclays cut their price target on Amgen from $240.00 to $230.00 and set an underweight rating on the stock in a research note on Wednesday, February 1st. Truist Financial cut their price target on Amgen from $280.00 to $260.00 and set a buy rating on the stock in a research note on Monday, February 13th. Cowen cut their price target on Amgen from $307.00 to $289.00 and set an outperform rating on the stock in a research note on Wednesday, February 1st. Finally, Piper Sandler cut their price target on Amgen from $299.00 to $293.00 and set an overweight rating on the stock in a research note on Thursday, January 19th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $251.44.

Amgen Stock Up 2.3 %

AMGN stock opened at $233.18 on Monday. Amgen has a fifty-two week low of $223.30 and a fifty-two week high of $296.67. The business’s 50 day moving average price is $248.67 and its two-hundred day moving average price is $255.13. The company has a debt-to-equity ratio of 10.20, a quick ratio of 1.10 and a current ratio of 1.41. The company has a market capitalization of $124.51 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 1.84 and a beta of 0.65.

Amgen (NASDAQ:AMGN – Get Rating) last posted its earnings results on Tuesday, February 7th. The medical research company reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $4.04 by $0.05. Amgen had a return on equity of 359.47% and a net margin of 24.89%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the prior year, the business earned $4.36 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts forecast that Amgen will post 17.72 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Stockholders of record on Thursday, May 18th will be issued a dividend of $2.13 per share. The ex-dividend date is Wednesday, May 17th. This represents a $8.52 annualized dividend and a dividend yield of 3.65%. Amgen’s payout ratio is 70.36%.

Hedge Funds Weigh In On Amgen

Hedge funds and other institutional investors have recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in shares of Amgen during the 3rd quarter valued at $25,000. Leelyn Smith LLC lifted its holdings in shares of Amgen by 80.3% during the 3rd quarter. Leelyn Smith LLC now owns 110 shares of the medical research company’s stock valued at $25,000 after buying an additional 49 shares during the period. Capital Wealth Alliance LLC bought a new position in shares of Amgen during the 2nd quarter valued at $26,000. Glassy Mountain Advisors Inc. bought a new position in shares of Amgen during the 4th quarter valued at $26,000. Finally, Tanglewood Legacy Advisors LLC purchased a new stake in shares of Amgen in the 4th quarter worth $26,000. 75.53% of the stock is owned by institutional investors.

Amgen Company Profile

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.