Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,863 shares of the medical research company’s stock after acquiring an additional 33 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Amgen were worth $1,889,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMGN. Keynote Financial Services LLC lifted its holdings in shares of Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares in the last quarter. Ascent Group LLC lifted its stake in Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares in the last quarter. RFP Financial Group LLC boosted its holdings in shares of Amgen by 17.1% in the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after buying an additional 32 shares during the period. Hofer & Associates. Inc increased its position in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares in the last quarter. Finally, Cadinha & Co. LLC raised its holdings in shares of Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 32 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMGN shares. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Bank of America raised their target price on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Truist Financial cut Amgen from a “buy” rating to a “hold” rating and raised their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $333.50.

Amgen Stock Performance

NASDAQ:AMGN opened at $319.29 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a 50 day simple moving average of $324.12 and a 200 day simple moving average of $316.64. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The stock has a market cap of $171.56 billion, a P/E ratio of 40.88, a PEG ratio of 2.81 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the company earned $4.96 EPS. The business’s revenue was up 23.2% on a year-over-year basis. Research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 2.82%. Amgen’s dividend payout ratio is presently 115.24%.

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.