TrueWealth Advisors LLC Acquires New Shares in Amgen Inc. (NASDAQ:AMGN)

TrueWealth Advisors LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 1,684 shares of the medical research company's stock, valued at approximately $543,000.

Several other institutional investors and hedge funds have also modified their holdings of AMGN. Capital International Investors grew its holdings in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company's stock worth $1,991,738,000 after buying an additional 5,923,915 shares in the last quarter. Pathway Financial Advisers LLC grew its stake 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 acquiring an additional 4,446,757 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company's stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Amgen by 6,812.4% during the third 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 purchasing an additional 2,486,882 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company's stock worth $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ AMGN traded down $0.94 during midday trading on Friday, reaching $319.22. The company's stock had a trading volume of 1,826,772 shares, compared to its average volume of 1,661,819. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.89 and a current ratio of 1.32. The company has a market cap of $171.53 billion, a P/E ratio of 40.87, a P/E/G ratio of 2.89 and a beta of 0.60. The business's 50 day moving average price is $324.47 and its two-hundred day moving average price is $315.90. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the company posted $4.96 EPS. The company's revenue was up 23.2% compared to the same quarter last year. On average, analysts forecast that Amgen Inc. will post 19.45 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.82%. The ex-dividend date is Monday, November 18th. Amgen's dividend payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AMGN shares. Robert W. Baird reissued an "underperform" rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. TD Cowen raised their price target on Amgen from $381.00 to $383.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. Morgan Stanley decreased their target price on shares of Amgen from $310.00 to $303.00 and set an "equal weight" rating for the company in a research note on Thursday, July 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has an average rating of "Moderate Buy" and a consensus target price of $333.50.

Amgen 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.