First Horizon Advisors Inc. raised its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,769 shares of the medical research company's stock after acquiring an additional 1,872 shares during the quarter. First Horizon Advisors Inc.'s holdings in Amgen were worth $19,581,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. Keynote Financial Services LLC grew its holdings in shares of Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company's stock valued at $1,530,000 after buying an additional 30 shares during the last quarter. Ascent Group LLC lifted its holdings in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company's stock valued at $3,421,000 after purchasing an additional 31 shares in the last quarter. Hofer & Associates. Inc boosted its position in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company's stock valued at $2,024,000 after buying an additional 32 shares during the last quarter. Cadinha & Co. LLC grew its holdings in Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company's stock worth $1,678,000 after buying an additional 32 shares in the last quarter. Finally, Lansing Street Advisors lifted its stake in Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company's stock valued at $832,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 76.50% of the company's stock.
Wall Street Analysts Forecast Growth
AMGN has been the subject of several analyst reports. Dbs Bank upgraded shares of Amgen to a "strong-buy" rating in a research note on Monday, September 16th. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Oppenheimer restated an "outperform" rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Robert W. Baird reissued an "underperform" rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Finally, Citigroup assumed coverage on Amgen in a report on Thursday, November 14th. They set a "neutral" rating and a $335.00 price objective on the stock. One investment 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 stock. According to MarketBeat.com, Amgen currently has a consensus rating of "Moderate Buy" and an average target price of $333.57.
View Our Latest Report on Amgen
Amgen Trading Up 2.8 %
AMGN traded up $7.92 on Wednesday, reaching $287.87. 4,759,193 shares of the company traded hands, compared to its average volume of 2,470,613. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. The firm has a fifty day simple moving average of $318.92 and a two-hundred day simple moving average of $318.43. 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 company has a market cap of $154.74 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60.
Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 firm 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 earned $4.96 EPS. The company's revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts expect that Amgen Inc. will post 19.51 earnings per share for the current year.
Amgen Announces Dividend
The company also recently declared 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 is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.13%. Amgen's dividend payout ratio is currently 115.24%.
Amgen Company Profile
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Free Report)
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.
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