Global Wealth Management LLC Acquires New Position in Amgen Inc. (NASDAQ:AMGN)

Global Wealth Management LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 825 shares of the medical research company’s stock, valued at approximately $266,000. Amgen accounts for about 0.2% of Global Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position.

A number of other large investors have also modified their holdings of AMGN. Strategic Financial Concepts LLC purchased a new position in Amgen in the second quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the second quarter valued at $30,000. nVerses Capital LLC purchased a new position in shares of Amgen in the second quarter valued at $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the 2nd quarter worth $33,000. Finally, Matrix Trust Co purchased a new stake in shares of Amgen in the 3rd quarter worth about $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 0.4 %

Shares of AMGN stock traded up $1.29 during mid-day trading on Friday, reaching $316.98. The company’s stock had a trading volume of 1,604,649 shares, compared to its average volume of 2,427,964. The company’s 50 day simple moving average is $325.49 and its 200-day simple moving average is $313.47. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The firm has a market capitalization of $170.04 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the business 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 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.84%. Amgen’s payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMGN. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $332.55.

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.