Linscomb Wealth Inc. Has $10.81 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Linscomb Wealth Inc. lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,547 shares of the medical research company’s stock after selling 484 shares during the period. Linscomb Wealth Inc.’s holdings in Amgen were worth $10,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the 3rd quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen in the 2nd quarter worth about $26,000. Hershey Financial Advisers LLC purchased a new stake in Amgen in the 2nd quarter valued at about $30,000. nVerses Capital LLC purchased a new stake in Amgen in the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ:AMGN traded down $13.82 during trading hours on Friday, hitting $282.11. 1,170,733 shares of the company’s stock traded hands, compared to its average volume of 2,435,083. The firm has a market cap of $151.64 billion, a P/E ratio of 36.44, a P/E/G ratio of 2.69 and a beta of 0.60. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The business’s fifty day simple moving average is $321.59 and its two-hundred day simple moving average is $318.00. The company has a quick ratio of 0.96, a current ratio of 1.32 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 the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 earnings per share. The company’s revenue was up 23.2% compared to the same quarter last year. On average, research 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. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group decreased their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Citigroup assumed coverage on shares of Amgen in a research note on Thursday. They set a “neutral” rating and a $335.00 price target for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and raised their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Company 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.