TCW Group Inc. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 276,727 shares of the medical research company's stock after buying an additional 16,984 shares during the quarter. TCW Group Inc. owned approximately 0.05% of Amgen worth $89,164,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new stake in Amgen in the second quarter worth approximately $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen during the 3rd quarter valued at $29,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the second quarter valued at about $30,000. Finally, nVerses Capital LLC bought a new position in Amgen in the second quarter worth approximately $31,000. Institutional investors own 76.50% of the company's stock.
Analysts Set New Price Targets
AMGN has been the subject of a number of analyst reports. StockNews.com upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Citigroup cut their price objective on Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Redburn Partners decreased their target price on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. TD Cowen boosted their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Finally, Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They set an "outperform" rating and a $380.00 price objective for the company. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $319.68.
Check Out Our Latest Stock Report on Amgen
Amgen Price Performance
NASDAQ AMGN traded down $2.34 during trading on Wednesday, reaching $273.41. The company's stock had a trading volume of 4,491,960 shares, compared to its average volume of 2,615,229. The firm has a fifty day moving average of $304.80 and a 200 day moving average of $315.45. Amgen Inc. has a one year low of $257.80 and a one year high of $346.85. The stock has a market capitalization of $146.97 billion, a PE ratio of 34.83, a P/E/G 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 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. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.50 billion. During the same period in the prior year, the business earned $4.96 earnings per share. Amgen's revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts expect that Amgen Inc. will post 19.51 EPS for the current fiscal year.
Amgen Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.48%. Amgen's payout ratio is currently 115.24%.
Amgen Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Amgen, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amgen wasn't on the list.
While Amgen currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
