Independent Advisor Alliance Raises Position in Amgen Inc. (NASDAQ:AMGN)

Independent Advisor Alliance boosted its position in Amgen Inc. (NASDAQ:AMGN) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,999 shares of the medical research company’s stock after acquiring an additional 1,776 shares during the period. Independent Advisor Alliance’s holdings in Amgen were worth $9,022,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the third quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new stake in Amgen in the 2nd quarter worth $26,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the 2nd quarter worth approximately $30,000. nVerses Capital LLC purchased a new stake in Amgen during the second quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at about $33,000. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

NASDAQ AMGN opened at $294.53 on Monday. Amgen Inc. has a 1 year low of $260.68 and a 1 year high of $346.85. The stock’s 50-day moving average price is $316.52 and its two-hundred day moving average price is $318.18. The company has a market cap of $158.32 billion, a PE ratio of 37.71, a PEG ratio of 2.63 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 the consensus estimate of $8.50 billion. During the same period in the prior year, the business earned $4.96 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts predict that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analyst Ratings Changes

Several research firms recently commented on AMGN. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Wolfe Research assumed coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Bank of America raised their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

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.