Jackson Wealth Management LLC Buys 3,000 Shares of Amgen Inc. (NASDAQ:AMGN)

Jackson Wealth Management LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 91.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,284 shares of the medical research company’s stock after purchasing an additional 3,000 shares during the period. Jackson Wealth Management LLC’s holdings in Amgen were worth $2,025,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Strategic Financial Concepts LLC bought a new stake in Amgen during the second quarter worth approximately $26,000. Hershey Financial Advisers LLC purchased a new stake in Amgen during the second quarter worth $30,000. nVerses Capital LLC purchased a new stake in Amgen during the second quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the second quarter worth $33,000. Finally, Matrix Trust Co acquired a new position in shares of Amgen during the third quarter worth $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America upped their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Argus increased their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 target price on shares of Amgen in a research note on Thursday, September 26th. Finally, Barclays raised their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $1.33 during midday trading on Thursday, reaching $316.23. The company’s stock had a trading volume of 257,171 shares, compared to its average volume of 2,426,770. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The company has a 50 day moving average price of $325.77 and a 200 day moving average price of $313.12. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a market cap of $169.64 billion, a price-to-earnings ratio of 44.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted 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 business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.00 earnings per share. On average, equities research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.85%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

About Amgen

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.