Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,656 shares of the medical research company’s stock after purchasing an additional 1,716 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Amgen were worth $5,367,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after acquiring an additional 3,045,657 shares in the last quarter. Capital International Investors increased its position in shares of Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Amgen by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after purchasing an additional 162,223 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares in the last quarter. Finally, Boston Partners grew its holdings in Amgen by 27.4% during the 1st quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock valued at $635,179,000 after purchasing an additional 481,214 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMGN shares. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and raised their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Barclays increased their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Bank of America increased their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Stock Performance

Shares of AMGN stock opened at $319.66 on Wednesday. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The firm has a market capitalization of $171.48 billion, a price-to-earnings ratio of 45.67, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The business has a 50 day simple moving average of $325.93 and a 200 day simple moving average of $313.11. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned $5.00 earnings per share. On average, equities research analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.