Amgen Inc. (NASDAQ:AMGN) Holdings Boosted by Beacon Financial Advisory LLC

Beacon Financial Advisory LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 769 shares of the medical research company’s stock after buying an additional 34 shares during the quarter. Beacon Financial Advisory LLC’s holdings in Amgen were worth $248,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in Amgen during the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the 2nd quarter valued at about $30,000. nVerses Capital LLC acquired a new stake in Amgen during the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC bought a new stake in Amgen in the second quarter valued at about $33,000. Finally, Matrix Trust Co acquired a new stake in shares of Amgen in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 0.8 %

Shares of NASDAQ:AMGN opened at $321.79 on Thursday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1 year low of $260.52 and a 1 year high of $346.85. The company has a market cap of $172.91 billion, a PE ratio of 41.20, a P/E/G ratio of 2.81 and a beta of 0.60. The stock’s 50-day moving average is $323.96 and its 200 day moving average is $316.68.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the company earned $4.96 EPS. The business’s revenue was up 23.2% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. TD Cowen raised their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Finally, Morgan Stanley reduced their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen 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.