Biltmore Family Office LLC Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Biltmore Family Office LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,024 shares of the medical research company’s stock after purchasing an additional 133 shares during the quarter. Biltmore Family Office LLC’s holdings in Amgen were worth $974,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMGN. Capital Performance Advisors LLP purchased a new stake in shares of Amgen during the third quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen during the second quarter worth $26,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen in the second quarter valued at $30,000. nVerses Capital LLC acquired a new position in Amgen in the second quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Amgen during the second quarter worth about $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. TD Cowen increased their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $333.57.

Amgen Stock Performance

Amgen stock opened at $289.77 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a 50 day moving average of $317.28 and a 200-day moving average of $318.02. The stock has a market cap of $155.76 billion, a P/E ratio of 37.10, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. Amgen Inc. has a 52 week low of $260.68 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 company had revenue of $8.50 billion during 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%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the business earned $4.96 EPS. On average, analysts expect that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio 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.