Cerro Pacific Wealth Advisors LLC Acquires 75 Shares of Amgen Inc. (NASDAQ:AMGN)

Cerro Pacific Wealth Advisors LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,480 shares of the medical research company’s stock after acquiring an additional 75 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Amgen were worth $1,087,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Watts Gwilliam & Co. LLC acquired a new position in Amgen during the third quarter worth about $5,567,000. B & T Capital Management DBA Alpha Capital Management boosted its stake in shares of Amgen by 1.0% in the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 13,534 shares of the medical research company’s stock valued at $4,361,000 after purchasing an additional 129 shares in the last quarter. GEM Asset Management LLC grew its holdings in shares of Amgen by 14.2% during the 3rd quarter. GEM Asset Management LLC now owns 749 shares of the medical research company’s stock valued at $238,000 after purchasing an additional 93 shares during the last quarter. Modus Advisors LLC increased its position in Amgen by 3.6% during the 3rd quarter. Modus Advisors LLC now owns 7,374 shares of the medical research company’s stock worth $2,376,000 after purchasing an additional 259 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. lifted its stake in Amgen by 2.1% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 70,016 shares of the medical research company’s stock valued at $22,560,000 after purchasing an additional 1,473 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Argus raised their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Cantor Fitzgerald started coverage on shares of Amgen in a research report on Friday, September 27th. They issued an “overweight” rating and a $405.00 price target for the company. Finally, Robert W. Baird reiterated an “underperform” rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. 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. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average target price of $326.30.

Amgen Stock Down 0.4 %

Amgen stock opened at $321.01 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $172.49 billion, a PE ratio of 55.25, a PEG ratio of 2.86 and a beta of 0.61. The firm’s fifty day moving average is $326.17 and its 200 day moving average is $310.22. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.00 earnings per share. As a group, sell-side 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 was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is currently 154.91%.

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.