BIP Wealth LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

BIP Wealth LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,108 shares of the medical research company’s stock after purchasing an additional 44 shares during the quarter. BIP Wealth LLC’s holdings in Amgen were worth $357,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Keynote Financial Services LLC increased its stake in Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after acquiring an additional 30 shares during the last quarter. Ascent Group LLC raised its holdings in shares of Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares in the last quarter. Hofer & Associates. Inc lifted its position in Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after buying an additional 32 shares during the last quarter. Cadinha & Co. LLC boosted its stake in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares in the last quarter. Finally, Lansing Street Advisors grew its holdings in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMGN. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. TD Cowen upped their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $279.95 on Wednesday. The company’s fifty day moving average is $318.92 and its two-hundred day moving average is $318.43. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm has a market capitalization of $150.48 billion, a P/E ratio of 35.85, a PEG ratio of 2.53 and a beta of 0.60. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85.

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

Amgen Announces Dividend

The business 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 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.