Larson Financial Group LLC Has $329,000 Position in Amgen Inc. (NASDAQ:AMGN)

Larson Financial Group LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 29.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,021 shares of the medical research company’s stock after buying an additional 231 shares during the quarter. Larson Financial Group LLC’s holdings in Amgen were worth $329,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Meyer Handelman Co. boosted its holdings in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after acquiring an additional 8,700 shares during the period. First Horizon Advisors Inc. boosted its stake in Amgen by 3.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares during the period. Swiss National Bank boosted its stake in Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after purchasing an additional 5,500 shares during the period. Napa Wealth Management acquired a new position in Amgen in the 3rd quarter valued at $1,104,000. Finally, Second Half Financial Partners LLC bought a new position in Amgen during the 3rd quarter worth $3,413,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMGN. Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and lifted 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 assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Price Performance

Shares of AMGN opened at $280.01 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a market cap of $150.51 billion, a PE ratio of 35.85, a PEG ratio of 2.63 and a beta of 0.60. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85. The business has a 50-day simple moving average of $314.64 and a two-hundred day simple moving average of $317.84.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm 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 is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.21%. Amgen’s dividend payout ratio (DPR) 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.