Pure Portfolios Holdings LLC Purchases New Shares in Amgen Inc. (NASDAQ:AMGN)

Pure Portfolios Holdings LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,112 shares of the medical research company’s stock, valued at approximately $358,000.

Several other large investors have also recently added to or reduced their stakes in the company. Security Financial Services INC. grew its position in shares of Amgen by 5.1% during the 1st quarter. Security Financial Services INC. now owns 968 shares of the medical research company’s stock worth $275,000 after purchasing an additional 47 shares in the last quarter. Northwest Investment Counselors LLC grew its position in Amgen by 7.5% during the first quarter. Northwest Investment Counselors LLC now owns 3,603 shares of the medical research company’s stock worth $1,024,000 after buying an additional 250 shares in the last quarter. CHICAGO TRUST Co NA increased its stake in Amgen by 6.4% during the 1st quarter. CHICAGO TRUST Co NA now owns 8,487 shares of the medical research company’s stock worth $2,413,000 after acquiring an additional 513 shares during the period. AdvisorNet Financial Inc raised its holdings in Amgen by 5.7% in the 1st quarter. AdvisorNet Financial Inc now owns 2,206 shares of the medical research company’s stock valued at $627,000 after acquiring an additional 119 shares in the last quarter. Finally, Peak Financial Advisors LLC bought a new stake in shares of Amgen during the 1st quarter valued at $2,827,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and raised their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Robert W. Baird restated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. TD Cowen boosted their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley cut their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $329.48.

Amgen Trading Up 0.1 %

AMGN opened at $321.66 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 fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company’s 50 day moving average price is $326.07 and its two-hundred day moving average price is $312.15. The firm has a market capitalization of $172.55 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.00 EPS. As a group, research analysts predict 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 was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. Amgen’s dividend payout ratio (DPR) is 128.57%.

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.