Smith Salley Wealth Management Purchases 265 Shares of Amgen Inc. (NASDAQ:AMGN)

Smith Salley Wealth Management raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,848 shares of the medical research company’s stock after purchasing an additional 265 shares during the period. Smith Salley Wealth Management’s holdings in Amgen were worth $4,784,000 at the end of the most recent quarter.

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

Amgen Stock Performance

NASDAQ:AMGN opened at $316.98 on Friday. The company has a market cap of $170.04 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The stock’s 50 day simple moving average is $325.49 and its two-hundred day simple moving average is $313.77. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the prior year, the firm posted $5.00 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities analysts anticipate that Amgen Inc. will post 19.49 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. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.84%. Amgen’s dividend payout ratio is 128.57%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMGN shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. TD Cowen raised their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Truist Financial cut Amgen from a “buy” rating to a “hold” rating and upped their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. 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’s stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Company 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.