Dillon & Associates Inc. Purchases 45 Shares of Amgen Inc. (NASDAQ:AMGN)

Dillon & Associates Inc. raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,661 shares of the medical research company’s stock after buying an additional 45 shares during the quarter. Dillon & Associates Inc.’s holdings in Amgen were worth $857,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new stake in shares of Amgen in the 3rd quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new position in Amgen in the second quarter valued at about $26,000. Hershey Financial Advisers LLC bought a new stake in Amgen during the second quarter worth about $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the second quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen in the second quarter valued at approximately $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on AMGN. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. UBS Group lowered their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and increased their price target for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Finally, Barclays lifted their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Stock Down 7.1 %

Amgen stock opened at $298.84 on Wednesday. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company has a 50 day moving average of $323.37 and a 200-day moving average of $318.07. The stock has a market capitalization of $160.64 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.90 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.01%. Amgen’s dividend payout ratio is currently 115.24%.

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.