Leo Wealth LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Leo Wealth LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,472 shares of the medical research company’s stock after purchasing an additional 257 shares during the period. Leo Wealth LLC’s holdings in Amgen were worth $1,441,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Capital International Investors increased its stake in Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC raised its stake in Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares in the last quarter. Capital Wealth Planning LLC lifted its position in Amgen by 28,684.1% during the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after purchasing an additional 830,405 shares during the last quarter. Finally, Granite Bay Wealth Management LLC increased its stake in Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after acquiring an additional 748,200 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. Barclays boosted their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research note on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday. Finally, Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Stock Performance

Shares of AMGN traded up $2.53 during trading hours on Tuesday, hitting $319.27. The stock had a trading volume of 839,855 shares, compared to its average volume of 2,435,475. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The stock has a fifty day moving average price of $326.00 and a 200 day moving average price of $312.76. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm has a market capitalization of $171.27 billion, a PE ratio of 45.06, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the prior year, the business earned $5.00 EPS. The company’s revenue was up 20.1% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.82%. Amgen’s payout ratio is currently 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.