Truepoint Inc. Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Truepoint Inc. bought a new position in Amgen Inc. (NASDAQ:AMGN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 643 shares of the medical research company’s stock, valued at approximately $207,000.

Other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its stake in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after purchasing an additional 1,377,007 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. Finally, Granite Bay Wealth Management LLC grew its stake in shares of Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after purchasing an additional 748,200 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Citigroup assumed coverage on Amgen in a research note on Thursday, November 14th. They set a “neutral” rating and a $335.00 target price for the company. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $333.57.

Amgen Stock Up 1.6 %

NASDAQ AMGN opened at $294.53 on Friday. The stock has a fifty day moving average of $316.52 and a 200-day moving average of $318.11. The stock has a market capitalization of $158.32 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 2.59 and a beta of 0.60. Amgen Inc. has a 52 week low of $260.68 and a 52 week high of $346.85. 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 announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 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 business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the firm earned $4.96 earnings per share. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast that Amgen Inc. will post 19.52 EPS for the current 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 $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.06%. Amgen’s payout ratio is 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.