Marcum Wealth LLC Has $1.43 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Marcum Wealth LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,452 shares of the medical research company’s stock after acquiring an additional 64 shares during the quarter. Marcum Wealth LLC’s holdings in Amgen were worth $1,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at approximately $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the second quarter valued at $30,000. nVerses Capital LLC acquired a new stake in Amgen during the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen during the second quarter worth approximately $33,000. Finally, FSA Wealth Management LLC boosted its holdings in shares of Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after buying an additional 91 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 1.5 %

Shares of AMGN opened at $322.41 on Thursday. The stock has a market cap of $172.95 billion, a price-to-earnings ratio of 46.06, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $326.66 and a 200-day simple moving average of $310.06.

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

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.79%. Amgen’s payout ratio is presently 128.57%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Cantor Fitzgerald assumed coverage on shares of Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 target price for the company. Finally, Bank of America raised their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.30.

Amgen Company 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.