Garden State Investment Advisory Services LLC Has $260,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Garden State Investment Advisory Services LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 806 shares of the medical research company’s stock after buying an additional 62 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Amgen were worth $260,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AMGN. Capital Performance Advisors LLP acquired a new position in Amgen in the third quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new stake in Amgen in the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC bought a new stake in Amgen in the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in Amgen in the second quarter valued at approximately $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN stock opened at $278.10 on Tuesday. The company has a market capitalization of $149.49 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 2.52 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. The company has a 50-day simple moving average of $311.37 and a 200 day simple moving average of $317.16. Amgen Inc. has a 52 week low of $257.80 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate 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 net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.96 EPS. On average, sell-side analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The business 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 dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and upped their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Redburn Partners lowered their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Citigroup lowered their price objective on shares of Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Royal Bank of Canada lowered their price objective on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Finally, Sanford C. Bernstein initiated coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $323.05.

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.