Castle Wealth Management LLC Acquires 2,207 Shares of Amgen Inc. (NASDAQ:AMGN)

Castle Wealth Management LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 170.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,504 shares of the medical research company’s stock after purchasing an additional 2,207 shares during the period. Castle Wealth Management LLC’s holdings in Amgen were worth $1,129,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new position in Amgen in the second quarter valued at about $26,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter valued at about $30,000. nVerses Capital LLC acquired a new position in shares of Amgen in the 2nd quarter valued at approximately $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the 2nd quarter worth approximately $33,000. Finally, Matrix Trust Co acquired a new stake in shares of Amgen during the 3rd quarter worth approximately $36,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and boosted their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Morgan Stanley decreased their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Finally, TD Cowen increased 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Price Performance

Amgen stock opened at $319.04 on Thursday. The stock’s 50 day moving average is $323.96 and its 200 day moving average is $316.68. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. The firm has a market cap of $171.43 billion, a P/E ratio of 41.20, a P/E/G ratio of 2.81 and a beta of 0.60. 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 (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the company earned $4.96 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

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 issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. Amgen’s payout ratio is currently 115.24%.

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.