Crestwood Advisors Group LLC Acquires 55 Shares of Amgen Inc. (NASDAQ:AMGN)

Crestwood Advisors Group LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,515 shares of the medical research company’s stock after purchasing an additional 55 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Amgen were worth $3,388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Hershey Financial Advisers LLC bought a new position in shares of Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC bought a new position in shares of Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen in the second quarter valued at approximately $33,000. Matrix Trust Co bought a new position in shares of Amgen in the third quarter valued at approximately $36,000. Finally, FSA Wealth Management LLC boosted its position in shares of Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 91 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.8 %

Shares of NASDAQ AMGN opened at $319.29 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The firm’s fifty day moving average is $324.12 and its 200 day moving average is $316.64. The company has a market cap of $171.56 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 2.81 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS 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 company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the firm earned $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. TD Cowen raised their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. UBS Group dropped their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $333.50.

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.