Amgen Inc. (NASDAQ:AMGN) Stake Lifted by Secure Asset Management LLC

Secure Asset Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 6.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 943 shares of the medical research company’s stock after purchasing an additional 53 shares during the period. Secure Asset Management LLC’s holdings in Amgen were worth $304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Rockland Trust Co. lifted its stake in Amgen by 2.1% during the first quarter. Rockland Trust Co. now owns 3,045 shares of the medical research company’s stock valued at $866,000 after purchasing an additional 64 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in shares of Amgen by 17.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 22,512 shares of the medical research company’s stock valued at $6,401,000 after acquiring an additional 3,423 shares during the last quarter. Armstrong Henry H Associates Inc. grew its holdings in shares of Amgen by 27.0% in the 1st quarter. Armstrong Henry H Associates Inc. now owns 1,106 shares of the medical research company’s stock worth $314,000 after acquiring an additional 235 shares during the last quarter. Birch Capital Management LLC raised its position in shares of Amgen by 3.5% during the first quarter. Birch Capital Management LLC now owns 23,179 shares of the medical research company’s stock worth $6,590,000 after purchasing an additional 783 shares during the period. Finally, Benson Investment Management Company Inc. acquired a new stake in shares of Amgen during the first quarter worth $4,772,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and lifted their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Argus boosted their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Sanford C. Bernstein assumed coverage on Amgen in a research report on Thursday. They issued an “outperform” rating and a $380.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $329.48.

Amgen Stock Up 0.1 %

AMGN opened at $321.66 on Friday. The firm has a market cap of $172.55 billion, a P/E ratio of 45.95, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The business has a 50 day moving average price of $326.07 and a 200 day moving average price of $311.90. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the firm posted $5.00 earnings per share. Amgen’s quarterly revenue was up 20.1% compared to the same quarter last year. Research analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. Amgen’s payout ratio is presently 128.57%.

Amgen Company 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.