Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 29.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,692 shares of the medical research company’s stock after acquiring an additional 4,745 shares during the quarter. Sheets Smith Wealth Management’s holdings in Amgen were worth $6,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital International Investors boosted its stake in shares of Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after buying an additional 5,923,915 shares during the period. Pathway Financial Advisers LLC raised its holdings in Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. Vanguard Group Inc. lifted its stake in Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after acquiring an additional 3,045,657 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $325.28 on Friday. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The company has a 50-day moving average price of $323.61 and a 200 day moving average price of $317.08. The company has a market cap of $174.85 billion, a P/E ratio of 41.65, a PEG ratio of 2.87 and a beta of 0.60. 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 (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.96 earnings per share. Research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Barclays increased their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. TD Cowen raised their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

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.