West Michigan Advisors LLC raised its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,638 shares of the medical research company’s stock after buying an additional 119 shares during the quarter. West Michigan Advisors LLC’s holdings in Amgen were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Harbour Trust & Investment Management Co increased its holdings in shares of Amgen by 1.1% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 5,035 shares of the medical research company’s stock valued at $1,622,000 after acquiring an additional 57 shares during the period. Schmidt P J Investment Management Inc. grew its position in Amgen by 1.4% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,876 shares of the medical research company’s stock worth $927,000 after purchasing an additional 40 shares during the last quarter. Nicholson Wealth Management Group LLC acquired a new position in Amgen in the third quarter valued at $1,226,000. Values First Advisors Inc. purchased a new stake in shares of Amgen in the third quarter valued at about $100,000. Finally, Woodard & Co. Asset Management Group Inc. ADV boosted its stake in shares of Amgen by 1.4% during the third quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 10,272 shares of the medical research company’s stock worth $3,310,000 after buying an additional 138 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Amgen Trading Up 0.3 %
NASDAQ:AMGN opened at $315.69 on Friday. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The stock has a fifty day simple moving average of $325.77 and a 200-day simple moving average of $313.12. The company has a market capitalization of $169.35 billion, a PE ratio of 45.10, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.
Amgen Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.85%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is 128.57%.
Wall Street Analysts Forecast Growth
Several research firms have commented on AMGN. TD Cowen upped their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $332.55.
Get Our Latest Research Report on AMGN
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.
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