LPL Financial LLC Has $242.28 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

LPL Financial LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 751,945 shares of the medical research company’s stock after buying an additional 4,999 shares during the period. LPL Financial LLC’s holdings in Amgen were worth $242,284,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Keynote Financial Services LLC increased its holdings in Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares during the period. Ascent Group LLC boosted its position in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares during the period. Hofer & Associates. Inc lifted its position in Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares during the period. Cadinha & Co. LLC lifted its position in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 32 shares during the period. Finally, Lansing Street Advisors lifted its position in Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on AMGN. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Truist Financial downgraded 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. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Sanford C. Bernstein began coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given 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 target price of $333.57.

Amgen Trading Up 0.7 %

Shares of AMGN opened at $289.77 on Friday. The stock’s 50-day moving average is $317.28 and its two-hundred day moving average is $318.02. The stock has a market cap of $155.76 billion, a PE ratio of 37.10, a P/E/G ratio of 2.50 and a beta of 0.60. Amgen Inc. has a 12 month low of $260.68 and a 12 month 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.

Amgen (NASDAQ:AMGN) last posted its 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. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.96 earnings per share. Equities analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued 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 3.11%. Amgen’s dividend payout ratio is 115.24%.

About Amgen

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.