Sequoia Financial Advisors LLC Has $43.36 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Sequoia Financial Advisors LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,582 shares of the medical research company's stock after buying an additional 11,679 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Amgen were worth $43,364,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC acquired a new stake in Amgen in the second quarter worth approximately $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at $33,000. Matrix Trust Co acquired a new stake in shares of Amgen during the 3rd quarter valued at $36,000. Finally, FSA Wealth Management LLC lifted its position in shares of Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company's stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $2.92 during midday trading on Tuesday, hitting $319.66. The company's stock had a trading volume of 2,067,917 shares, compared to its average volume of 2,441,629. The stock has a market capitalization of $171.48 billion, a price-to-earnings ratio of 45.06, a PEG ratio of 2.86 and a beta of 0.61. The stock's 50 day simple moving average is $326.00 and its 200 day simple moving average is $312.76. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business posted $5.00 earnings per share. As a group, research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, August 16th. Amgen's payout ratio is presently 128.57%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMGN shares. TD Cowen increased their target price on Amgen from $381.00 to $383.00 and gave the company a "buy" rating in a report on Monday. Truist Financial lowered Amgen from a "buy" rating to a "hold" rating and increased their target price for the company from $320.00 to $333.00 in a report on Monday, October 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday. Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They issued an "outperform" rating and a $380.00 target price for the company. Finally, Dbs Bank raised shares of Amgen to a "strong-buy" rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $332.55.

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.