Strait & Sound Wealth Management LLC Increases Stake in Amgen Inc. (NASDAQ:AMGN)

Strait & Sound Wealth Management LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,267 shares of the medical research company’s stock after buying an additional 331 shares during the quarter. Amgen comprises about 0.7% of Strait & Sound Wealth Management LLC’s portfolio, making the stock its 27th biggest holding. Strait & Sound Wealth Management LLC’s holdings in Amgen were worth $1,375,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMGN. Lantz Financial LLC boosted its stake in Amgen by 5.1% during the second quarter. Lantz Financial LLC now owns 1,779 shares of the medical research company’s stock worth $556,000 after buying an additional 87 shares during the last quarter. M&G Plc raised its stake in shares of Amgen by 35.6% in the 2nd quarter. M&G Plc now owns 36,449 shares of the medical research company’s stock valued at $11,372,000 after acquiring an additional 9,572 shares during the period. Burke & Herbert Bank & Trust Co. acquired a new position in Amgen during the second quarter worth $402,000. Great Valley Advisor Group Inc. grew its position in Amgen by 9.7% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 7,772 shares of the medical research company’s stock valued at $2,429,000 after acquiring an additional 686 shares in the last quarter. Finally, Hendley & Co. Inc. purchased a new stake in Amgen during the 2nd quarter worth approximately $368,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Up 1.9 %

Shares of NASDAQ:AMGN opened at $277.63 on Tuesday. 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 has a market capitalization of $149.23 billion, a P/E ratio of 35.55, a P/E/G ratio of 3.02 and a beta of 0.55. Amgen Inc. has a 52-week low of $257.80 and a 52-week high of $346.85. The stock’s fifty day simple moving average is $305.69 and its 200-day simple moving average is $315.66.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations 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 company earned $4.96 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 18th were issued a $2.25 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.24%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Citigroup decreased their target price on Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Leerink Partners decreased their price target on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, TD Cowen boosted their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $319.68.

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.