Executive Wealth Management LLC Purchases New Shares in Amgen Inc. (NASDAQ:AMGN)

Executive Wealth Management LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,456 shares of the medical research company's stock, valued at approximately $7,880,000.

Several other large investors have also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the third quarter worth about $25,000. Strategic Financial Concepts LLC purchased a new stake in Amgen in the 2nd quarter worth approximately $26,000. Legacy Investment Solutions LLC bought a new position in Amgen in the 3rd quarter valued at $29,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter valued at $30,000. Finally, nVerses Capital LLC purchased a new position in shares of Amgen during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Down 0.7 %

AMGN traded down $1.88 during trading on Tuesday, hitting $275.75. 2,790,641 shares of the stock traded hands, compared to its average volume of 2,607,342. The firm has a 50-day moving average of $305.69 and a 200 day moving average of $315.66. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85. The firm has a market capitalization of $148.22 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) 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 company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the business earned $4.96 EPS. Amgen's revenue was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is an increase from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.45%. Amgen's payout ratio is presently 115.24%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Cantor Fitzgerald restated an "overweight" rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, November 12th. Dbs Bank raised shares of Amgen to a "strong-buy" rating in a research note on Monday, September 16th. Bank of America reissued an "underperform" rating and issued a $256.00 price target on shares of Amgen in a research note on Tuesday. Finally, Robert W. Baird reissued an "underperform" rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $319.68.

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.