Commonwealth Equity Services LLC Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Commonwealth Equity Services LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 387,356 shares of the medical research company’s stock after acquiring an additional 486 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.07% of Amgen worth $124,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new stake in Amgen in the 2nd quarter valued at approximately $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the second quarter valued at $30,000. nVerses Capital LLC purchased a new stake in Amgen during the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen in the 2nd quarter valued at about $33,000. Finally, Matrix Trust Co acquired a new position in Amgen in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of a number of recent research reports. TD Cowen lifted their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and boosted their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. Morgan Stanley decreased their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Robert W. Baird reiterated an “underperform” rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $329.48.

Amgen Stock Up 0.1 %

Shares of NASDAQ:AMGN traded up $0.33 during mid-day trading on Friday, hitting $321.66. 1,552,126 shares of the company traded hands, compared to its average volume of 2,447,665. The firm’s 50 day simple moving average is $326.07 and its 200 day simple moving average is $311.90. The firm has a market cap of $172.55 billion, a P/E ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.00 EPS. On average, equities analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is 128.57%.

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.