Amgen Inc. (NASDAQ:AMGN) Shares Bought by Colton Groome Financial Advisors LLC

Colton Groome Financial Advisors LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,744 shares of the medical research company’s stock after buying an additional 350 shares during the period. Amgen comprises 0.8% of Colton Groome Financial Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Colton Groome Financial Advisors LLC’s holdings in Amgen were worth $2,173,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Mirador Capital Partners LP lifted its holdings in Amgen by 39.3% during the 1st quarter. Mirador Capital Partners LP now owns 2,076 shares of the medical research company’s stock worth $590,000 after buying an additional 586 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in Amgen by 6.6% in the first quarter. Miracle Mile Advisors LLC now owns 4,914 shares of the medical research company’s stock valued at $1,397,000 after purchasing an additional 303 shares in the last quarter. Tributary Capital Management LLC raised its holdings in Amgen by 30.7% during the first quarter. Tributary Capital Management LLC now owns 2,173 shares of the medical research company’s stock worth $618,000 after purchasing an additional 510 shares in the last quarter. Cullinan Associates Inc. boosted its holdings in shares of Amgen by 12.0% in the 1st quarter. Cullinan Associates Inc. now owns 174,620 shares of the medical research company’s stock valued at $49,648,000 after buying an additional 18,733 shares in the last quarter. Finally, MV Capital Management Inc. grew its position in shares of Amgen by 2.3% in the 1st quarter. MV Capital Management Inc. now owns 7,965 shares of the medical research company’s stock valued at $2,265,000 after buying an additional 180 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN stock opened at $316.98 on Monday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock’s 50 day moving average price is $325.49 and its 200 day moving average price is $314.10. The firm has a market cap of $170.04 billion, a P/E ratio of 45.28, a PEG ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85.

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 the consensus estimate 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 firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.00 earnings per share. On average, sell-side analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AMGN shares. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and upped their price objective for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Morgan Stanley decreased their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Barclays upped their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $332.55.

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.