Amgen Inc. (NASDAQ:AMGN) Stake Lifted by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. boosted its position in Amgen Inc. (NASDAQ:AMGN) by 130.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,908 shares of the medical research company’s stock after purchasing an additional 10,136 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Amgen were worth $5,770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Gamco Investors INC. ET AL grew its position in Amgen by 5.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 5,431 shares of the medical research company’s stock valued at $1,544,000 after buying an additional 271 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Amgen by 4.4% during the first quarter. Lazard Asset Management LLC now owns 31,841 shares of the medical research company’s stock valued at $9,051,000 after acquiring an additional 1,353 shares during the period. Mount Yale Investment Advisors LLC increased its stake in shares of Amgen by 5.8% during the first quarter. Mount Yale Investment Advisors LLC now owns 5,696 shares of the medical research company’s stock valued at $1,619,000 after acquiring an additional 311 shares during the period. SVB Wealth LLC lifted its position in Amgen by 5.7% in the first quarter. SVB Wealth LLC now owns 28,797 shares of the medical research company’s stock worth $8,188,000 after purchasing an additional 1,544 shares during the period. Finally, Captrust Financial Advisors lifted its position in Amgen by 59.6% in the first quarter. Captrust Financial Advisors now owns 645,523 shares of the medical research company’s stock worth $183,535,000 after purchasing an additional 241,179 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of AMGN opened at $294.53 on Friday. The business’s 50-day moving average is $316.52 and its 200-day moving average is $318.11. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a market capitalization of $158.32 billion, a price-to-earnings ratio of 37.71, a P/E/G ratio of 2.59 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $260.68 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the business earned $4.96 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 19.52 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.06%. Amgen’s dividend payout ratio is 115.24%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Sanford C. Bernstein assumed coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and boosted their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Finally, Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $333.57.

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.