Principle Wealth Partners LLC raised its stake in Amgen, Inc. (NASDAQ:AMGN) by 574.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,902 shares of the medical research company’s stock after buying an additional 49,312 shares during the quarter. Amgen makes up approximately 3.9% of Principle Wealth Partners LLC’s investment portfolio, making the stock its 4th largest position. Principle Wealth Partners LLC’s holdings in Amgen were worth $11,205,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of AMGN. Advisors Preferred LLC acquired a new position in Amgen during the 2nd quarter worth about $30,000. Arbor Wealth Management LLC lifted its stake in Amgen by 154.5% during the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after acquiring an additional 102 shares in the last quarter. Atwater Malick LLC acquired a new position in Amgen during the 3rd quarter worth about $39,000. Ashburton Jersey Ltd acquired a new position in Amgen during the 2nd quarter worth about $42,000. Finally, Sound Income Strategies LLC lifted its stake in Amgen by 402.1% during the 2nd quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock worth $43,000 after acquiring an additional 189 shares in the last quarter. Institutional investors own 76.33% of the company’s stock.
AMGN stock traded up $3.12 during mid-day trading on Friday, reaching $221.11. The company had a trading volume of 2,069,900 shares, compared to its average volume of 2,911,719. The firm has a fifty day simple moving average of $202.75 and a 200 day simple moving average of $188.90. Amgen, Inc. has a fifty-two week low of $166.30 and a fifty-two week high of $221.25. The company has a market capitalization of $127.80 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.21 and a beta of 1.09. The company has a debt-to-equity ratio of 2.54, a quick ratio of 2.59 and a current ratio of 2.89.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.53 by $0.13. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same period last year, the business posted $3.69 EPS. The company’s revenue was down 2.8% on a year-over-year basis. As a group, analysts predict that Amgen, Inc. will post 14.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $1.45 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $5.80 annualized dividend and a dividend yield of 2.62%. Amgen’s dividend payout ratio (DPR) is currently 40.28%.
In related news, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $215.45, for a total value of $91,566.25. Following the sale, the director now directly owns 5,413 shares in the company, valued at $1,166,230.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $193.58, for a total value of $387,160.00. Following the completion of the sale, the director now owns 16,436 shares in the company, valued at $3,181,680.88. The disclosure for this sale can be found here. Insiders sold a total of 17,851 shares of company stock worth $3,685,674 over the last quarter. Company insiders own 0.25% of the company’s stock.
Several equities analysts recently issued reports on AMGN shares. Sanford C. Bernstein started coverage on Amgen in a research note on Monday, October 14th. They set an “outperform” rating on the stock. Wells Fargo & Co reissued a “market perform” rating and set a $220.00 target price (up previously from $202.00) on shares of Amgen in a research note on Tuesday, August 27th. They noted that the move was a valuation call. Bank of America started coverage on Amgen in a research note on Wednesday, October 16th. They set a “neutral” rating and a $215.00 target price on the stock. Goldman Sachs Group set a $243.00 target price on Amgen and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, BMO Capital Markets set a $240.00 target price on Amgen and gave the stock a “buy” rating in a research note on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $219.56.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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