NorthRock Partners LLC Purchases 45 Shares of Amgen Inc. (NASDAQ:AMGN)

NorthRock Partners LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,228 shares of the medical research company’s stock after acquiring an additional 45 shares during the period. NorthRock Partners LLC’s holdings in Amgen were worth $1,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Strategic Financial Concepts LLC bought a new position in shares of Amgen during the 2nd quarter worth $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the 2nd quarter valued at about $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen in the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the second quarter valued at approximately $33,000. Finally, Matrix Trust Co purchased a new position in Amgen during the third quarter valued at approximately $36,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

AMGN traded up $0.23 on Tuesday, hitting $317.14. 246,217 shares of the company’s stock were exchanged, compared to its average volume of 2,406,219. The stock has a fifty day moving average of $324.27 and a two-hundred day moving average of $316.29. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The firm has a market cap of $170.41 billion, a PE ratio of 40.58, a P/E/G ratio of 2.81 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.96 EPS. On average, research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 yield of 2.84%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Wall Street Analyst Weigh In

AMGN has been the topic of several recent research reports. Morgan Stanley dropped their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and raised their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Finally, TD Cowen raised their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $333.50.

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.