Executive Wealth Management LLC Buys Shares of 24,456 Amgen Inc. (NASDAQ:AMGN)

Executive Wealth Management LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 24,456 shares of the medical research company’s stock, valued at approximately $7,880,000.

Several other institutional investors have also bought and sold shares of AMGN. AIA Group Ltd purchased a new stake in shares of Amgen during the 1st quarter valued at approximately $612,000. Susquehanna Fundamental Investments LLC purchased a new stake in Amgen during the 1st quarter worth about $2,957,000. Montag A & Associates Inc. grew its holdings in Amgen by 84.8% during the 1st quarter. Montag A & Associates Inc. now owns 5,775 shares of the medical research company’s stock valued at $1,642,000 after buying an additional 2,650 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Amgen by 115.1% in the first quarter. Atomi Financial Group Inc. now owns 3,736 shares of the medical research company’s stock worth $1,062,000 after buying an additional 1,999 shares in the last quarter. Finally, Chilton Capital Management LLC boosted its position in shares of Amgen by 5.9% in the first quarter. Chilton Capital Management LLC now owns 67,615 shares of the medical research company’s stock valued at $19,224,000 after acquiring an additional 3,773 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMGN. Barclays upped their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and increased their price objective for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Bank of America upped their target price on 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 downgraded Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research note on Thursday, September 26th. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen Trading Up 1.0 %

AMGN opened at $325.28 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The stock has a market cap of $174.85 billion, a PE ratio of 41.65, a PEG ratio of 2.79 and a beta of 0.60. The business has a 50 day moving average of $323.61 and a 200-day moving average of $317.08.

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, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the business earned $4.96 EPS. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.77%. 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.