Western Pacific Wealth Management LP Buys 380 Shares of Amgen Inc. (NASDAQ:AMGN)

Western Pacific Wealth Management LP grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 245.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 535 shares of the medical research company’s stock after acquiring an additional 380 shares during the quarter. Western Pacific Wealth Management LP’s holdings in Amgen were worth $172,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in shares of Amgen during the 2nd quarter worth $26,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the 2nd quarter worth approximately $30,000. nVerses Capital LLC bought a new position in Amgen in the 2nd quarter valued at approximately $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen in the second quarter valued at approximately $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen during the third quarter worth $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN opened at $321.91 on Friday. The company has a market cap of $173.04 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 2.79 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The company’s fifty day moving average price is $323.96 and its two-hundred day moving average price is $316.68.

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

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AMGN shares. Barclays raised their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and upped their price objective for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Robert W. Baird reiterated an “underperform” rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.