Providence Wealth Advisors LLC Has $1.75 Million Position in Amgen Inc. (NASDAQ:AMGN)

Providence Wealth Advisors LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,521 shares of the medical research company’s stock after buying an additional 110 shares during the period. Amgen makes up 1.3% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Providence Wealth Advisors LLC’s holdings in Amgen were worth $1,745,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Amgen in the third quarter worth about $25,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the second quarter worth about $30,000. nVerses Capital LLC acquired a new position in Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen in the second quarter worth about $33,000. Finally, Matrix Trust Co acquired a new position in Amgen in the third quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on AMGN shares. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Redburn Partners dropped their price target on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday. Citigroup decreased their price objective on shares of Amgen from $335.00 to $310.00 in a research note on Wednesday. Leerink Partners decreased their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday. Finally, Wolfe Research initiated coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $323.05.

Amgen Trading Up 0.0 %

Shares of NASDAQ:AMGN opened at $280.07 on Friday. Amgen Inc. has a 12 month low of $257.80 and a 12 month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company’s fifty day simple moving average is $312.46 and its 200 day simple moving average is $317.31. The firm has a market cap of $150.55 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 2.62 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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 business 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%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the business posted $4.96 earnings per share. As a group, research analysts forecast 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. Investors of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

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.