Amgen Inc. (NASDAQ:AMGN) Shares Purchased by AlphaCore Capital LLC

AlphaCore Capital LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 13.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,006 shares of the medical research company’s stock after purchasing an additional 470 shares during the quarter. AlphaCore Capital LLC’s holdings in Amgen were worth $1,291,000 as of its most recent SEC filing.

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

Amgen Stock Up 0.7 %

NASDAQ:AMGN opened at $289.77 on Friday. Amgen Inc. has a one year low of $260.68 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a market cap of $155.76 billion, a PE ratio of 37.10, a P/E/G ratio of 2.50 and a beta of 0.60. The firm’s 50 day simple moving average is $317.28 and its 200 day simple moving average is $318.02.

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

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.11%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is presently 115.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMGN. Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Citigroup assumed coverage on Amgen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $335.00 target price on the stock. Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and raised their target price for the company from $320.00 to $333.00 in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $333.57.

About Amgen

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.