Cassaday & Co Wealth Management LLC Purchases 98 Shares of Amgen Inc. (NASDAQ:AMGN)

Cassaday & Co Wealth Management LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,832 shares of the medical research company’s stock after purchasing an additional 98 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Amgen were worth $1,235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Meyer Handelman Co. increased its position in Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after buying an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Amgen by 11.0% during the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after buying an additional 2,353 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after buying an additional 5,500 shares during the period. Cornerstone Capital Inc. grew its stake in Amgen by 3.2% in the 3rd quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock valued at $34,328,000 after buying an additional 3,260 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in Amgen by 88.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 78,092 shares of the medical research company’s stock valued at $25,162,000 after acquiring an additional 36,733 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMGN. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Trading Down 4.2 %

Shares of NASDAQ AMGN opened at $283.61 on Monday. The stock has a market cap of $152.45 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. The firm has a 50 day moving average price of $320.85 and a two-hundred day moving average price of $318.65. 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.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the business posted $4.96 earnings per share. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is presently 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.