Stablepoint Partners LLC Acquires 1,860 Shares of Amgen Inc. (NASDAQ:AMGN)

Stablepoint Partners LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 9.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,334 shares of the medical research company’s stock after purchasing an additional 1,860 shares during the period. Amgen makes up about 1.3% of Stablepoint Partners LLC’s portfolio, making the stock its 15th largest holding. Stablepoint Partners LLC’s holdings in Amgen were worth $7,196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new position in shares of Amgen in the third quarter worth $357,000. Accelerate Investment Advisors LLC acquired a new stake in Amgen during the third quarter worth about $267,000. Paladin Wealth LLC bought a new position in Amgen in the 3rd quarter valued at about $142,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Amgen by 3.6% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,438 shares of the medical research company’s stock valued at $1,752,000 after buying an additional 189 shares in the last quarter. Finally, Woodstock Corp lifted its holdings in shares of Amgen by 0.6% during the 3rd quarter. Woodstock Corp now owns 14,934 shares of the medical research company’s stock worth $4,812,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 1.4 %

Shares of NASDAQ AMGN traded down $4.56 during midday trading on Monday, reaching $323.79. The stock had a trading volume of 119,829 shares, compared to its average volume of 2,454,884. The company’s 50 day moving average price is $326.06 and its 200 day moving average price is $310.92. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The firm has a market cap of $173.69 billion, a price-to-earnings ratio of 46.91, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its earnings results 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). The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.00 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.78%. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Bank of America boosted their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Cantor Fitzgerald began coverage on Amgen in a research note on Friday, September 27th. They set an “overweight” rating and a $405.00 target price for the company. Finally, Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $326.95.

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.