Concord Asset Management LLC VA Acquires 786 Shares of Amgen Inc. (NASDAQ:AMGN)

Concord Asset Management LLC VA grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 10.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,054 shares of the medical research company’s stock after purchasing an additional 786 shares during the period. Concord Asset Management LLC VA’s holdings in Amgen were worth $2,595,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMGN. Meyer Handelman Co. boosted its holdings in Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Amgen by 11.0% in the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after purchasing an additional 2,353 shares during the period. Cornerstone Capital Inc. boosted its stake in shares of Amgen by 3.2% in the 3rd quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock valued at $34,328,000 after purchasing an additional 3,260 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in shares of Amgen during the second quarter worth $3,354,000. Finally, Verity & Verity LLC raised its stake in Amgen by 2.7% during the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after buying an additional 2,182 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $283.61 on Friday. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business has a 50 day moving average price of $320.85 and a 200-day moving average price of $318.36. The company has a market cap of $152.45 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the firm posted $4.96 EPS. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Wolfe Research initiated coverage on Amgen in a research report on Friday. They set a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $333.57.

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.