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

Icon Wealth Advisors LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 3,955.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 174,040 shares of the medical research company’s stock after purchasing an additional 169,748 shares during the period. Icon Wealth Advisors LLC’s holdings in Amgen were worth $56,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AMGN. Charles Schwab Investment Management Inc. boosted its stake in Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after buying an additional 251,876 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Amgen by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after purchasing an additional 162,223 shares during the period. International Assets Investment Management LLC boosted its position in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Finally, Boston Partners boosted its position in Amgen by 27.4% during the 1st quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock worth $635,179,000 after acquiring an additional 481,214 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.6 %

AMGN stock opened at $294.53 on Monday. The firm’s fifty day simple moving average is $316.52 and its 200-day simple moving average is $318.18. 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 current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 12 month low of $260.68 and a 12 month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the firm earned $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities research analysts forecast that Amgen Inc. will post 19.52 earnings per share for the current year.

Amgen Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.06%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Wolfe Research initiated coverage on Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Barclays raised their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target 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.