First Horizon Advisors Inc. Purchases 1,872 Shares of Amgen Inc. (NASDAQ:AMGN)

First Horizon Advisors Inc. lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,769 shares of the medical research company’s stock after buying an additional 1,872 shares during the period. First Horizon Advisors Inc.’s holdings in Amgen were worth $19,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Howe & Rusling Inc. boosted its position in Amgen by 3.2% during the 3rd quarter. Howe & Rusling Inc. now owns 4,858 shares of the medical research company’s stock worth $1,565,000 after acquiring an additional 151 shares during the last quarter. Hilton Capital Management LLC grew its holdings in shares of Amgen by 2.2% in the 3rd quarter. Hilton Capital Management LLC now owns 21,527 shares of the medical research company’s stock valued at $6,936,000 after acquiring an additional 466 shares in the last quarter. Commerce Bank increased its position in shares of Amgen by 1.4% in the third quarter. Commerce Bank now owns 381,263 shares of the medical research company’s stock valued at $122,847,000 after acquiring an additional 5,119 shares during the last quarter. MWA Asset Management raised its holdings in Amgen by 1.6% during the third quarter. MWA Asset Management now owns 2,469 shares of the medical research company’s stock worth $795,000 after acquiring an additional 40 shares in the last quarter. Finally, Counterweight Ventures LLC boosted its position in Amgen by 1.1% during the third quarter. Counterweight Ventures LLC now owns 7,409 shares of the medical research company’s stock valued at $2,387,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Wolfe Research started coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Finally, StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $279.95 on Wednesday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The firm has a market cap of $150.48 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. The firm’s fifty day moving average is $318.92 and its 200-day moving average is $318.43.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 EPS. The business’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.21%. Amgen’s dividend payout ratio (DPR) 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.