CFS Investment Advisory Services LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

CFS Investment Advisory Services LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,799 shares of the medical research company’s stock, valued at approximately $2,835,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Pathway Financial Advisers LLC increased its position in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. International Assets Investment Management LLC increased its position in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the period. Janus Henderson Group PLC increased its position in shares of Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after buying an additional 1,377,007 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after buying an additional 1,306,982 shares during the period. Finally, Granite Bay Wealth Management LLC boosted its position in Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after acquiring an additional 748,200 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of several research reports. UBS Group decreased their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Price Performance

NASDAQ AMGN opened at $289.77 on Friday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The business’s fifty day moving average is $317.28 and its 200 day moving average is $318.02. The company has a market capitalization of $155.76 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $260.68 and a fifty-two week high of $346.85.

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

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given 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 3.11%. Amgen’s payout ratio is 115.24%.

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.