Napa Wealth Management Invests $1.10 Million in Amgen Inc. (NASDAQ:AMGN)

Napa Wealth Management purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,426 shares of the medical research company's stock, valued at approximately $1,104,000.

Several other large investors also recently made changes to their positions in AMGN. Capital International Investors grew its holdings in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company's stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock worth $1,437,115,000 after buying an additional 4,446,757 shares during the period. Dimensional Fund Advisors LP grew its stake in Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company's stock valued at $844,137,000 after buying an additional 162,223 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company's stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company's stock worth $676,984,000 after acquiring an additional 1,377,007 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Price Performance

NASDAQ:AMGN traded down $4.85 during mid-day trading on Monday, reaching $278.76. 3,068,901 shares of the company were exchanged, compared to its average volume of 2,456,554. 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 $149.84 billion, a PE ratio of 36.31, a PEG ratio of 2.53 and a beta of 0.60. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The company has a fifty day moving average of $320.85 and a 200 day moving average of $318.65.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen's revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.96 EPS. On average, research analysts anticipate that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen's dividend payout ratio (DPR) is presently 115.24%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Dbs Bank upgraded Amgen to a "strong-buy" rating in a research note on Monday, September 16th. Bank of America upped their price target on Amgen from $325.00 to $330.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Oppenheimer restated an "outperform" rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Amgen has an average rating of "Moderate Buy" and a consensus price target of $333.57.

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.