Kingsview Wealth Management LLC Buys 12,430 Shares of Amgen Inc. (NASDAQ:AMGN)

Kingsview Wealth Management LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 37.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,272 shares of the medical research company’s stock after acquiring an additional 12,430 shares during the period. Kingsview Wealth Management LLC’s holdings in Amgen were worth $14,587,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the 3rd quarter valued at $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $294.53 on Friday. The company has a market capitalization of $158.32 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 2.59 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52-week low of $260.68 and a 52-week high of $346.85. The business has a 50-day simple moving average of $316.52 and a two-hundred day simple moving average of $317.98.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the business earned $4.96 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. Research analysts expect that Amgen Inc. will post 19.52 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.06%. Amgen’s payout ratio is presently 115.24%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Robert W. Baird reissued an “underperform” rating and set a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. UBS Group lowered their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company lowered 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. Wolfe Research initiated coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned 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 an average rating of “Moderate Buy” and a consensus target price of $333.57.

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.