Amgen Inc. (NASDAQ:AMGN) Stock Position Lifted by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,641 shares of the medical research company’s stock after acquiring an additional 671 shares during the period. Amgen comprises about 2.1% of Wolff Wiese Magana LLC’s holdings, making the stock its 10th largest holding. Wolff Wiese Magana LLC’s holdings in Amgen were worth $3,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the second quarter valued at about $30,000. nVerses Capital LLC purchased a new position in Amgen during the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen in the 2nd quarter worth approximately $33,000. Matrix Trust Co purchased a new position in Amgen during the 3rd quarter valued at $36,000. Finally, FSA Wealth Management LLC lifted its position in shares of Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after purchasing an additional 91 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMGN shares. Barclays raised their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. TD Cowen raised their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley reduced their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Finally, Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $326.95.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $321.63 on Thursday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The firm’s 50 day simple moving average is $326.15 and its two-hundred day simple moving average is $311.56. The company has a market capitalization of $172.53 billion, a P/E ratio of 45.95, a P/E/G ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the prior year, the firm posted $5.00 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. Amgen’s dividend payout ratio is currently 128.57%.

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.