49 Wealth Management LLC Makes New $270,000 Investment in Amgen Inc. (NASDAQ:AMGN)

49 Wealth Management LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 837 shares of the medical research company’s stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Meyer Handelman Co. raised its position in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after buying an additional 8,700 shares during the last quarter. Swiss National Bank raised its position in Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after purchasing an additional 5,500 shares in the last quarter. First Horizon Advisors Inc. raised its position in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after purchasing an additional 1,872 shares in the last quarter. Napa Wealth Management acquired a new position in Amgen in the third quarter worth about $1,104,000. Finally, Second Half Financial Partners LLC acquired a new position in Amgen in the third quarter worth about $3,413,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 1.6 %

NASDAQ:AMGN opened at $294.53 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $260.68 and a 12-month high of $346.85. The stock’s fifty day simple moving average is $316.52 and its 200-day simple moving average is $317.98. The firm has a market capitalization of $158.32 billion, a P/E ratio of 37.71, a P/E/G ratio of 2.50 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the business earned $4.96 earnings per share. The company’s revenue was up 23.2% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analyst Ratings Changes

Several research analysts recently issued reports on AMGN shares. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and boosted their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Finally, UBS Group dropped their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $333.57.

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.