Arkadios Wealth Advisors Increases Stake in Amgen Inc. (NASDAQ:AMGN)

Arkadios Wealth Advisors grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,929 shares of the medical research company’s stock after purchasing an additional 215 shares during the quarter. Arkadios Wealth Advisors’ holdings in Amgen were worth $1,266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. NorthCrest Asset Manangement LLC grew its holdings in Amgen by 1.6% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 97,096 shares of the medical research company’s stock worth $31,285,000 after acquiring an additional 1,565 shares during the last quarter. Forsta AP Fonden increased its stake in shares of Amgen by 0.6% during the third quarter. Forsta AP Fonden now owns 130,600 shares of the medical research company’s stock valued at $42,081,000 after buying an additional 800 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Amgen by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 402,392 shares of the medical research company’s stock valued at $129,840,000 after acquiring an additional 55,357 shares in the last quarter. Osborne Partners Capital Management LLC lifted its stake in Amgen by 0.5% in the third quarter. Osborne Partners Capital Management LLC now owns 12,425 shares of the medical research company’s stock worth $4,003,000 after acquiring an additional 60 shares during the period. Finally, BKM Wealth Management LLC boosted its holdings in Amgen by 3.0% in the third quarter. BKM Wealth Management LLC now owns 6,562 shares of the medical research company’s stock valued at $2,114,000 after acquiring an additional 194 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $316.98 on Monday. 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 Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The business has a 50-day moving average price of $325.49 and a 200-day moving average price of $314.10. The firm has a market cap of $170.04 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

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

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.84%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AMGN shares. Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and upped their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Barclays lifted their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $332.55.

Amgen 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.