World Investment Advisors LLC Raises Position in Amgen Inc. (NASDAQ:AMGN)

World Investment Advisors LLC increased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 48.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,083 shares of the medical research company's stock after buying an additional 3,616 shares during the period. World Investment Advisors LLC's holdings in Amgen were worth $3,571,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Amgen during the 3rd quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $26,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen in the third quarter valued at $29,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter worth $30,000. Finally, nVerses Capital LLC purchased a new stake in Amgen during the second quarter valued at $31,000. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research reports. Citigroup reduced their target price on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Jefferies Financial Group reissued a "buy" rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Truist Financial lowered Amgen from a "buy" rating to a "hold" rating and raised their price objective for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Leerink Partners cut their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two equities 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $319.68.

Amgen Stock Down 1.3 %

Shares of AMGN stock traded down $3.44 on Friday, hitting $270.62. The stock had a trading volume of 2,906,477 shares, compared to its average volume of 2,621,149. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a one year low of $257.80 and a one year high of $346.85. The business has a 50 day moving average price of $302.02 and a 200 day moving average price of $314.63. The company has a market cap of $145.47 billion, a PE ratio of 34.65, a P/E/G ratio of 2.91 and a beta of 0.55.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating 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 business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the business posted $4.96 EPS. The company's quarterly revenue was up 23.2% compared to the same quarter last year. Research analysts anticipate that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.52%. This is a positive change from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen's payout ratio is presently 115.24%.

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.