Global Assets Advisory LLC Buys 1,717 Shares of Amgen Inc. (NASDAQ:AMGN)

Global Assets Advisory LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 195.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,595 shares of the medical research company’s stock after purchasing an additional 1,717 shares during the quarter. Global Assets Advisory LLC’s holdings in Amgen were worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in AMGN. Sovereign Financial Group Inc. raised its position in Amgen by 11.0% during the first quarter. Sovereign Financial Group Inc. now owns 1,451 shares of the medical research company’s stock valued at $413,000 after acquiring an additional 144 shares in the last quarter. GoalVest Advisory LLC boosted its stake in shares of Amgen by 215.9% in the first quarter. GoalVest Advisory LLC now owns 537 shares of the medical research company’s stock worth $153,000 after acquiring an additional 367 shares during the last quarter. Key Client Fiduciary Advisors LLC boosted its stake in shares of Amgen by 18.0% in the first quarter. Key Client Fiduciary Advisors LLC now owns 1,134 shares of the medical research company’s stock worth $323,000 after acquiring an additional 173 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of Amgen by 10.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 12,744 shares of the medical research company’s stock worth $3,623,000 after acquiring an additional 1,198 shares during the last quarter. Finally, Thrive Wealth Management LLC boosted its stake in Amgen by 18.7% during the first quarter. Thrive Wealth Management LLC now owns 2,772 shares of the medical research company’s stock worth $788,000 after buying an additional 436 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Truist Financial cut 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 report on Monday, October 14th. Barclays upped their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday. Finally, Oppenheimer reissued an “outperform” rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $332.55.

Amgen Stock Performance

NASDAQ AMGN opened at $314.90 on Thursday. The business’s 50-day moving average price is $325.77 and its 200 day moving average price is $313.12. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a market capitalization of $168.92 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the company posted $5.00 earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, research analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.86%. Amgen’s dividend payout ratio is presently 128.57%.

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.