PDS Planning Inc Acquires 76 Shares of Amgen Inc. (NASDAQ:AMGN)

PDS Planning Inc raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,349 shares of the medical research company’s stock after acquiring an additional 76 shares during the quarter. PDS Planning Inc’s holdings in Amgen were worth $757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Palisades Hudson Asset Management L.P. raised its stake in shares of Amgen by 14.5% during the 3rd quarter. Palisades Hudson Asset Management L.P. now owns 758 shares of the medical research company’s stock valued at $244,000 after purchasing an additional 96 shares during the period. QRG Capital Management Inc. increased its position in shares of Amgen by 4.8% during the third quarter. QRG Capital Management Inc. now owns 94,805 shares of the medical research company’s stock valued at $30,547,000 after buying an additional 4,326 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Amgen by 1.3% during the third quarter. Asset Management One Co. Ltd. now owns 325,558 shares of the medical research company’s stock valued at $104,898,000 after buying an additional 4,323 shares during the period. National Pension Service lifted its holdings in shares of Amgen by 14.9% in the third quarter. National Pension Service now owns 1,064,291 shares of the medical research company’s stock worth $342,925,000 after buying an additional 138,233 shares in the last quarter. Finally, Cohen Capital Management Inc. boosted its position in shares of Amgen by 3.8% in the third quarter. Cohen Capital Management Inc. now owns 2,176 shares of the medical research company’s stock valued at $701,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.0 %

Shares of NASDAQ:AMGN traded up $0.15 during midday trading on Monday, hitting $319.37. 183,974 shares of the stock traded hands, compared to its average volume of 2,407,601. The company has a quick ratio of 0.89, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business’s 50 day moving average is $324.47 and its two-hundred day moving average is $315.90. The stock has a market capitalization of $171.61 billion, a PE ratio of 40.87, a P/E/G ratio of 2.89 and a beta of 0.60. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.96 EPS. As a group, research analysts forecast that Amgen Inc. will post 19.45 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Barclays lifted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Bank of America boosted their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $333.50.

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.