Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,588,440 shares of the medical research company’s stock after acquiring an additional 30,731 shares during the quarter. Amgen accounts for 5.3% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 6th biggest position. Montrusco Bolton Investments Inc. owned approximately 0.30% of Amgen worth $500,527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Nwam LLC raised its stake in shares of Amgen by 1.2% during the 3rd quarter. Nwam LLC now owns 17,227 shares of the medical research company’s stock worth $5,551,000 after purchasing an additional 196 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Amgen during the 3rd quarter worth approximately $5,106,000. Icon Wealth Advisors LLC raised its stake in shares of Amgen by 3,955.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock worth $56,000 after purchasing an additional 169,748 shares in the last quarter. Biltmore Family Office LLC raised its stake in shares of Amgen by 4.6% during the 3rd quarter. Biltmore Family Office LLC now owns 3,024 shares of the medical research company’s stock worth $974,000 after purchasing an additional 133 shares in the last quarter. Finally, CFS Investment Advisory Services LLC bought a new stake in shares of Amgen during the 3rd quarter worth approximately $2,835,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Finally, UBS Group dropped their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Price Performance

Shares of AMGN opened at $294.53 on Friday. Amgen Inc. has a 1 year low of $260.68 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a market capitalization of $158.32 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. The business has a 50-day moving average of $316.52 and a 200-day moving average of $317.98.

Amgen (NASDAQ:AMGN) last issued 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. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.96 earnings per share. As a group, equities research analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The firm 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 $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 yield of 3.06%. Amgen’s payout ratio is currently 115.24%.

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.