Apollon Financial LLC Has $289,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Apollon Financial LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 896 shares of the medical research company’s stock after purchasing an additional 53 shares during the quarter. Apollon Financial LLC’s holdings in Amgen were worth $289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Amgen during the third quarter worth $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the second quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen during the second quarter worth about $30,000. nVerses Capital LLC bought a new position in Amgen during the second quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMGN shares. Robert W. Baird restated an “underperform” rating and set a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and upped their price objective for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Finally, Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Trading Down 1.1 %

NASDAQ AMGN opened at $321.81 on Tuesday. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a market cap of $172.98 billion, a P/E ratio of 41.20, a P/E/G ratio of 2.90 and a beta of 0.60. The stock’s 50-day moving average is $323.37 and its 200-day moving average is $318.07.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.96 earnings per share. Sell-side analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

About Amgen

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.