Diversify Wealth Management LLC Raises Position in Amgen Inc. (NASDAQ:AMGN)

Diversify Wealth Management LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 26.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,647 shares of the medical research company’s stock after purchasing an additional 973 shares during the period. Diversify Wealth Management LLC’s holdings in Amgen were worth $1,463,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $30,000. nVerses Capital LLC purchased a new position in Amgen in the 2nd quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen in the 2nd quarter valued at approximately $33,000. Matrix Trust Co purchased a new position in Amgen in the 3rd quarter valued at approximately $36,000. Finally, FSA Wealth Management LLC grew its stake in Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $315.54 on Thursday. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company has a market capitalization of $169.27 billion, a P/E ratio of 45.08, a P/E/G ratio of 2.86 and a beta of 0.61. The company has a fifty day moving average of $324.75 and a 200-day moving average of $314.78.

Amgen (NASDAQ:AMGN) last posted 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). The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.00 earnings per share. As a group, equities 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. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.85%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is presently 128.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AMGN shares. TD Cowen lifted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Barclays lifted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.