Teamwork Financial Advisors LLC Buys 43,133 Shares of Amgen Inc. (NASDAQ:AMGN)

Teamwork Financial Advisors LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 4,946.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,005 shares of the medical research company’s stock after acquiring an additional 43,133 shares during the quarter. Amgen accounts for about 2.0% of Teamwork Financial Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Teamwork Financial Advisors LLC’s holdings in Amgen were worth $14,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AMGN. Park Avenue Securities LLC grew its holdings in shares of Amgen by 1.1% in the first quarter. Park Avenue Securities LLC now owns 31,650 shares of the medical research company’s stock worth $8,999,000 after acquiring an additional 353 shares during the period. Inscription Capital LLC purchased a new stake in shares of Amgen during the 1st quarter valued at about $331,000. LexAurum Advisors LLC increased its position in shares of Amgen by 23.7% during the 1st quarter. LexAurum Advisors LLC now owns 1,212 shares of the medical research company’s stock valued at $345,000 after purchasing an additional 232 shares during the last quarter. Tealwood Asset Management Inc. lifted its stake in shares of Amgen by 1.2% in the 1st quarter. Tealwood Asset Management Inc. now owns 5,277 shares of the medical research company’s stock worth $1,500,000 after purchasing an additional 64 shares during the period. Finally, First Affirmative Financial Network boosted its holdings in shares of Amgen by 6.4% in the first quarter. First Affirmative Financial Network now owns 1,259 shares of the medical research company’s stock worth $358,000 after buying an additional 76 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. TD Cowen raised their target price on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Cantor Fitzgerald initiated coverage on Amgen in a research note on Friday, September 27th. They issued an “overweight” rating and a $405.00 price objective on the stock. Finally, Bank of America lifted their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $329.48.

Amgen Stock Performance

NASDAQ AMGN opened at $321.33 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The business has a 50 day simple moving average of $326.08 and a two-hundred day simple moving average of $311.63. The stock has a market capitalization of $172.37 billion, a PE ratio of 45.90, a P/E/G ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during 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 revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the business posted $5.00 earnings per share. On average, research analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.80%. Amgen’s payout ratio is currently 128.57%.

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.