D.A. Davidson & CO. Has $70.16 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

D.A. Davidson & CO. lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 217,734 shares of the medical research company’s stock after purchasing an additional 5,056 shares during the period. D.A. Davidson & CO.’s holdings in Amgen were worth $70,156,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AMGN. Capital Performance Advisors LLP acquired a new position in Amgen during the 3rd quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the second quarter worth approximately $30,000. nVerses Capital LLC bought a new stake in shares of Amgen during the second quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in Amgen in the second quarter valued at approximately $33,000. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. UBS Group cut their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft reiterated 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, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Price Performance

Shares of AMGN opened at $294.00 on Tuesday. The company has a market cap of $158.03 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.63 and a beta of 0.60. The company’s fifty day simple moving average is $315.69 and its 200 day simple moving average is $318.05. Amgen Inc. has a 1-year low of $260.68 and a 1-year high of $346.85. 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 (NASDAQ:AMGN) last posted its 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. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue 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, research analysts forecast that Amgen Inc. will post 19.52 earnings per share for the current fiscal 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 issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is presently 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.