Stewardship Advisors LLC Invests $240,000 in Amgen Inc. (NASDAQ:AMGN)

Stewardship Advisors LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 745 shares of the medical research company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AdvisorNet Financial Inc grew its holdings in Amgen by 5.7% during the first quarter. AdvisorNet Financial Inc now owns 2,206 shares of the medical research company’s stock valued at $627,000 after purchasing an additional 119 shares during the period. Austin Private Wealth LLC raised its position in Amgen by 4.3% during the first quarter. Austin Private Wealth LLC now owns 1,023 shares of the medical research company’s stock valued at $281,000 after purchasing an additional 42 shares in the last quarter. Annex Advisory Services LLC raised its position in Amgen by 1.9% during the first quarter. Annex Advisory Services LLC now owns 15,091 shares of the medical research company’s stock valued at $4,291,000 after purchasing an additional 285 shares in the last quarter. Riverview Trust Co increased its holdings in shares of Amgen by 11.0% in the first quarter. Riverview Trust Co now owns 1,006 shares of the medical research company’s stock worth $286,000 after buying an additional 100 shares during the period. Finally, Mechanics Bank Trust Department increased its holdings in shares of Amgen by 4.4% in the first quarter. Mechanics Bank Trust Department now owns 5,433 shares of the medical research company’s stock worth $1,545,000 after buying an additional 229 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of several research reports. TD Cowen lifted their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. Cantor Fitzgerald assumed coverage on shares of Amgen in a report on Friday, September 27th. They issued an “overweight” rating and a $405.00 target price for the company. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Stock Performance

Amgen stock traded down $4.10 during midday trading on Monday, hitting $317.56. 779,377 shares of the company’s stock were exchanged, compared to its average volume of 2,439,757. The stock has a market cap of $170.35 billion, a price-to-earnings ratio of 45.54, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The firm’s 50 day simple moving average is $326.07 and its 200 day simple moving average is $312.41. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the business earned $5.00 EPS. Equities research analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 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.