Atlanta Consulting Group Advisors LLC Makes New $796,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Atlanta Consulting Group Advisors LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,471 shares of the medical research company's stock, valued at approximately $796,000.

Several other hedge funds have also added to or reduced their stakes in the business. Keynote Financial Services LLC raised its stake 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 acquiring an additional 30 shares during the last quarter. Ascent Group LLC grew its holdings in Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company's stock worth $3,421,000 after acquiring an additional 31 shares during the period. Hofer & Associates. Inc lifted its position in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company's stock valued at $2,024,000 after acquiring an additional 32 shares during the period. Cadinha & Co. LLC increased its position in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company's stock valued at $1,678,000 after buying an additional 32 shares in the last quarter. Finally, Lansing Street Advisors raised 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 worth $832,000 after buying an additional 32 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMGN shares. Robert W. Baird reaffirmed an "underperform" rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Truist Financial downgraded shares of Amgen from a "buy" rating to a "hold" rating and upped their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. TD Cowen lifted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a "buy" rating in a report on Monday, October 21st. Royal Bank of Canada restated an "outperform" rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Finally, Sanford C. Bernstein began coverage on Amgen in a research note on Thursday, October 17th. They set an "outperform" rating and a $380.00 price target for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Amgen presently has an average rating of "Moderate Buy" and an average price target of $333.57.

Amgen Trading Down 4.2 %

Shares of Amgen stock opened at $283.61 on Friday. The company's 50-day moving average price is $320.85 and its 200-day moving average price is $318.36. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market cap of $152.45 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.69 and a beta of 0.60. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced 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 company's quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.96 EPS. On average, equities analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business 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. This represents a $9.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen's dividend payout ratio (DPR) is currently 115.24%.

Amgen Company 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.

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