Morse Asset Management Inc Purchases Shares of 2,500 Amgen Inc. (NASDAQ:AMGN)

Morse Asset Management Inc acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,500 shares of the medical research company’s stock, valued at approximately $806,000.

Several other large investors also recently added to or reduced their stakes in the business. Motley Fool Asset Management LLC raised its position in Amgen by 3.8% in the third quarter. Motley Fool Asset Management LLC now owns 21,627 shares of the medical research company’s stock worth $6,928,000 after acquiring an additional 784 shares during the period. IHT Wealth Management LLC increased its stake in shares of Amgen by 10.5% in the 3rd quarter. IHT Wealth Management LLC now owns 12,765 shares of the medical research company’s stock worth $4,111,000 after purchasing an additional 1,210 shares in the last quarter. Ingalls & Snyder LLC raised its holdings in Amgen by 0.3% in the 3rd quarter. Ingalls & Snyder LLC now owns 15,460 shares of the medical research company’s stock worth $4,981,000 after purchasing an additional 50 shares during the period. Intrepid Capital Management Inc. grew its holdings in Amgen by 6.7% during the third quarter. Intrepid Capital Management Inc. now owns 1,744 shares of the medical research company’s stock valued at $562,000 after purchasing an additional 110 shares during the period. Finally, Investment Management Corp of Ontario increased its position in Amgen by 22.3% in the third quarter. Investment Management Corp of Ontario now owns 27,447 shares of the medical research company’s stock worth $8,844,000 after buying an additional 5,010 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Leerink Partners decreased their price objective on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Citigroup cut their price target on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $323.05.

Amgen Trading Up 0.1 %

NASDAQ AMGN opened at $278.32 on Wednesday. Amgen Inc. has a 12 month low of $257.80 and a 12 month high of $346.85. The company’s 50-day moving average price is $309.17 and its 200-day moving average price is $316.66. The stock has a market cap of $149.61 billion, a PE ratio of 35.64, a PEG ratio of 3.08 and a beta of 0.55. 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 announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.96 earnings per share. Equities research analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid 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 3.23%. Amgen’s dividend payout ratio is currently 115.24%.

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.