Amgen Inc. (NASDAQ:AMGN) Shares Bought by ARK Investment Management LLC

ARK Investment Management LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,614 shares of the medical research company’s stock after acquiring an additional 1,793 shares during the period. ARK Investment Management LLC’s holdings in Amgen were worth $24,686,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Consolidated Planning Corp raised its holdings in Amgen by 273.7% in the 3rd quarter. Consolidated Planning Corp now owns 2,515 shares of the medical research company’s stock worth $811,000 after purchasing an additional 1,842 shares during the period. Western Pacific Wealth Management LP lifted its position in shares of Amgen by 245.2% during the 3rd quarter. Western Pacific Wealth Management LP now owns 535 shares of the medical research company’s stock valued at $172,000 after buying an additional 380 shares in the last quarter. JB Capital LLC grew its position in shares of Amgen by 9.1% in the third quarter. JB Capital LLC now owns 11,540 shares of the medical research company’s stock valued at $3,718,000 after purchasing an additional 964 shares during the period. General American Investors Co. Inc. increased its stake in Amgen by 20.0% during the 3rd quarter. General American Investors Co. Inc. now owns 30,000 shares of the medical research company’s stock worth $9,666,000 after buying an additional 5,000 shares in the last quarter. Finally, Castle Wealth Management LLC raised its holdings in shares of Amgen by 170.2% during the third quarter. Castle Wealth Management LLC now owns 3,504 shares of the medical research company’s stock valued at $1,129,000 after acquiring an additional 2,207 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

AMGN opened at $321.91 on Friday. The stock’s 50-day moving average price is $323.96 and its 200 day moving average price is $316.68. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The firm has a market cap of $173.04 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 2.79 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $8.50 billion. During the same period in the prior year, the firm earned $4.96 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts expect that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and lifted their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.