Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Atlas Private Wealth Advisors

Atlas Private Wealth Advisors raised its position in Amgen Inc. (NASDAQ:AMGN) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,624 shares of the medical research company’s stock after purchasing an additional 36 shares during the quarter. Atlas Private Wealth Advisors’ holdings in Amgen were worth $1,812,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mountain Pacific Investment Advisers LLC raised its position in Amgen by 20.6% in the third quarter. Mountain Pacific Investment Advisers LLC now owns 6,324 shares of the medical research company’s stock valued at $2,038,000 after purchasing an additional 1,080 shares during the period. USA Financial Formulas purchased a new stake in shares of Amgen during the third quarter worth approximately $1,331,000. Wedmont Private Capital increased its stake in shares of Amgen by 4.9% during the third quarter. Wedmont Private Capital now owns 5,419 shares of the medical research company’s stock worth $1,720,000 after buying an additional 255 shares during the period. Marcum Wealth LLC raised its holdings in Amgen by 1.5% in the third quarter. Marcum Wealth LLC now owns 4,452 shares of the medical research company’s stock valued at $1,434,000 after acquiring an additional 64 shares in the last quarter. Finally, Abner Herrman & Brock LLC lifted its stake in Amgen by 2.7% in the third quarter. Abner Herrman & Brock LLC now owns 11,460 shares of the medical research company’s stock worth $3,692,000 after acquiring an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $322.41 on Thursday. The firm has a market capitalization of $172.95 billion, a PE ratio of 46.06, a P/E/G ratio of 2.98 and a beta of 0.61. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The firm’s 50-day simple moving average is $326.46 and its 200 day simple moving average is $310.14. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

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

Amgen Dividend Announcement

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

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Barclays raised their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, TD Cowen increased their target price on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $326.30.

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.