CWA Asset Management Group LLC Purchases New Position in Amgen Inc. (NASDAQ:AMGN)

CWA Asset Management Group LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,335 shares of the medical research company’s stock, valued at approximately $1,719,000.

Other institutional investors also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new stake in Amgen during the 1st quarter valued at approximately $2,957,000. Montag A & Associates Inc. lifted its position in shares of Amgen by 84.8% in the first quarter. Montag A & Associates Inc. now owns 5,775 shares of the medical research company’s stock valued at $1,642,000 after acquiring an additional 2,650 shares in the last quarter. Atomi Financial Group Inc. boosted its stake in shares of Amgen by 115.1% during the first quarter. Atomi Financial Group Inc. now owns 3,736 shares of the medical research company’s stock valued at $1,062,000 after acquiring an additional 1,999 shares during the last quarter. NorthRock Partners LLC increased its position in Amgen by 13.2% during the 1st quarter. NorthRock Partners LLC now owns 4,647 shares of the medical research company’s stock worth $1,321,000 after purchasing an additional 543 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its stake in Amgen by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 9,869 shares of the medical research company’s stock valued at $2,806,000 after purchasing an additional 366 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN opened at $325.28 on Friday. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The company has a 50 day moving average of $323.61 and a two-hundred day moving average of $317.08. The company has a market cap of $174.85 billion, a P/E ratio of 41.65, a P/E/G ratio of 2.87 and a beta of 0.60. 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 (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the company earned $4.96 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. On average, analysts expect that Amgen Inc. will post 19.51 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. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

Analyst Ratings Changes

AMGN has been the topic of several analyst reports. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and raised their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Finally, StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One research 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 company. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $333.50.

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.