Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Coastwise Capital Group LLC

Coastwise Capital Group LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,247 shares of the medical research company’s stock after acquiring an additional 105 shares during the period. Coastwise Capital Group LLC’s holdings in Amgen were worth $724,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMGN. Lynx Investment Advisory acquired a new position in Amgen during the second quarter worth about $68,000. Olistico Wealth LLC purchased a new stake in shares of Amgen in the second quarter valued at $187,000. Kingswood Wealth Advisors LLC boosted its stake in shares of Amgen by 1.8% during the second quarter. Kingswood Wealth Advisors LLC now owns 6,733 shares of the medical research company’s stock valued at $2,104,000 after acquiring an additional 122 shares during the last quarter. Park Avenue Securities LLC increased its position in Amgen by 11.1% during the 2nd quarter. Park Avenue Securities LLC now owns 35,171 shares of the medical research company’s stock worth $10,989,000 after purchasing an additional 3,521 shares in the last quarter. Finally, Somerset Trust Co raised its stake in Amgen by 0.5% in the 2nd quarter. Somerset Trust Co now owns 18,675 shares of the medical research company’s stock valued at $5,835,000 after purchasing an additional 90 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $282.87 on Monday. The company has a market cap of $152.05 billion, a P/E ratio of 36.22, a PEG ratio of 2.52 and a beta of 0.60. Amgen Inc. has a one year low of $257.80 and a one year high of $346.85. The business’s 50-day simple moving average is $311.37 and its 200 day simple moving average is $317.16. 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 (NASDAQ:AMGN) last released 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. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the business earned $4.96 EPS. The business’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AMGN shares. Bank of America lifted their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Leerink Partners lowered their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $323.05.

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.