Philip James Wealth Mangement LLC Invests $3.74 Million in Amgen Inc. (NASDAQ:AMGN)

Philip James Wealth Mangement LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,600 shares of the medical research company’s stock, valued at approximately $3,738,000.

Other institutional investors have also recently bought and sold shares of the company. Hershey Financial Advisers LLC acquired a new stake in Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC purchased a new position in shares of Amgen during the second quarter valued at $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen during the second quarter valued at $33,000. Matrix Trust Co purchased a new stake in Amgen in the 3rd quarter worth about $36,000. Finally, FSA Wealth Management LLC boosted its position in Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN traded up $2.13 during midday trading on Friday, reaching $324.04. The stock had a trading volume of 119,055 shares, compared to its average volume of 2,401,752. The stock has a market capitalization of $174.18 billion, a P/E ratio of 41.22, a PEG ratio of 2.79 and a beta of 0.60. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm’s fifty day simple moving average is $323.96 and its 200-day simple moving average is $316.68.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the business posted $4.96 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMGN shares. Oppenheimer reiterated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average price target of $333.50.

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.