ORG Wealth Partners LLC Makes New $357,000 Investment in Amgen Inc. (NASDAQ:AMGN)

ORG Wealth Partners LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,109 shares of the medical research company’s stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Hershey Financial Advisers LLC purchased a new position in shares of Amgen during the second quarter worth approximately $30,000. nVerses Capital LLC purchased a new position in Amgen during the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen during the 2nd quarter worth $33,000. Matrix Trust Co bought a new stake in Amgen during the 3rd quarter valued at $36,000. Finally, FSA Wealth Management LLC lifted its holdings in shares of Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after buying an additional 91 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $324.52 on Monday. 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 firm has a market cap of $174.08 billion, a PE ratio of 46.91, a PEG ratio of 2.86 and a beta of 0.61. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The firm has a fifty day moving average of $326.06 and a 200 day moving average of $310.92.

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

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the company from $320.00 to $333.00 in a report on Monday. Robert W. Baird restated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. TD Cowen increased their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued 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. Finally, Cantor Fitzgerald initiated coverage on Amgen in a report on Friday, September 27th. They issued an “overweight” rating and a $405.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $326.95.

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.