IHT Wealth Management LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

IHT Wealth Management LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 10.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 12,765 shares of the medical research company’s stock after buying an additional 1,210 shares during the quarter. IHT Wealth Management LLC’s holdings in Amgen were worth $4,111,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen during the 3rd quarter valued at approximately $25,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the second quarter worth about $30,000. nVerses Capital LLC bought a new stake in shares of Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at approximately $33,000. Finally, Matrix Trust Co bought a new position in Amgen in the 3rd quarter worth approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMGN. Leerink Partners dropped their price objective on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and increased their price target for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Barclays raised their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average price target of $323.05.

Amgen Trading Up 0.1 %

AMGN opened at $278.32 on Wednesday. Amgen Inc. has a one year low of $257.80 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business has a 50 day simple moving average of $309.17 and a two-hundred day simple moving average of $316.66. The firm has a market capitalization of $149.61 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 3.08 and a beta of 0.55.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the company posted $4.96 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a 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%.

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.