Greystone Financial Group LLC Purchases Shares of 19,414 Amgen Inc. (NASDAQ:AMGN)

Greystone Financial Group LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,414 shares of the medical research company’s stock, valued at approximately $6,255,000.

Other large investors have also made changes to their positions in the company. Sovereign Financial Group Inc. raised its position in shares of Amgen by 11.0% during the first quarter. Sovereign Financial Group Inc. now owns 1,451 shares of the medical research company’s stock valued at $413,000 after buying an additional 144 shares during the last quarter. GoalVest Advisory LLC raised its holdings in Amgen by 215.9% in the 1st quarter. GoalVest Advisory LLC now owns 537 shares of the medical research company’s stock valued at $153,000 after acquiring an additional 367 shares in the last quarter. Key Client Fiduciary Advisors LLC lifted its position in shares of Amgen by 18.0% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 1,134 shares of the medical research company’s stock worth $323,000 after acquiring an additional 173 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in shares of Amgen by 10.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 12,744 shares of the medical research company’s stock worth $3,623,000 after purchasing an additional 1,198 shares in the last quarter. Finally, Thrive Wealth Management LLC increased its position in shares of Amgen by 18.7% during the first quarter. Thrive Wealth Management LLC now owns 2,772 shares of the medical research company’s stock valued at $788,000 after purchasing an additional 436 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN stock opened at $314.90 on Thursday. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm’s 50 day moving average is $325.77 and its 200-day moving average is $313.12. The firm has a market capitalization of $168.92 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 2.86 and a beta of 0.61.

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

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.86%. Amgen’s payout ratio is 128.57%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Morgan Stanley dropped their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Sanford C. Bernstein began coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Finally, Truist Financial cut Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $332.55.

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.