Global Wealth Management Investment Advisory Inc. Raises Stake in Amgen Inc. (NASDAQ:AMGN)

Global Wealth Management Investment Advisory Inc. lifted its position in Amgen Inc. (NASDAQ:AMGN) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,429 shares of the medical research company’s stock after purchasing an additional 41 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Amgen were worth $1,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AMGN. Central Pacific Bank Trust Division purchased a new position in shares of Amgen during the 1st quarter worth $414,000. Proficio Capital Partners LLC lifted its holdings in shares of Amgen by 10.5% in the 1st quarter. Proficio Capital Partners LLC now owns 1,611 shares of the medical research company’s stock valued at $458,000 after acquiring an additional 153 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in shares of Amgen by 112.1% in the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,898 shares of the medical research company’s stock worth $540,000 after purchasing an additional 1,003 shares during the period. Mediolanum International Funds Ltd bought a new position in Amgen during the first quarter valued at $6,534,000. Finally, Avidian Wealth Solutions LLC raised its position in Amgen by 10.2% in the 1st quarter. Avidian Wealth Solutions LLC now owns 3,304 shares of the medical research company’s stock worth $939,000 after purchasing an additional 307 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMGN. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Bank of America boosted their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Robert W. Baird reiterated an “underperform” rating and set a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft restated 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, UBS Group reduced their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Price Performance

Amgen stock traded down $2.10 during midday trading on Tuesday, hitting $314.81. The company’s stock had a trading volume of 51,743 shares, compared to its average volume of 2,405,500. The company has a market capitalization of $169.16 billion, a PE ratio of 40.58, a price-to-earnings-growth ratio of 2.81 and a beta of 0.60. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock’s 50-day moving average price is $324.27 and its 200-day moving average price is $316.29.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $4.96 earnings per share. Analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 2.86%. Amgen’s payout ratio is presently 115.24%.

Amgen 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.