Global Retirement Partners LLC Increases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Global Retirement Partners LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,886 shares of the medical research company’s stock after purchasing an additional 329 shares during the period. Global Retirement Partners LLC’s holdings in Amgen were worth $4,474,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC boosted its position in Amgen by 1.1% during the first quarter. Park Avenue Securities LLC now owns 31,650 shares of the medical research company’s stock valued at $8,999,000 after purchasing an additional 353 shares in the last quarter. Inscription Capital LLC purchased a new stake in shares of Amgen during the first quarter valued at about $331,000. LexAurum Advisors LLC boosted its holdings in shares of Amgen by 23.7% in the 1st quarter. LexAurum Advisors LLC now owns 1,212 shares of the medical research company’s stock valued at $345,000 after buying an additional 232 shares in the last quarter. Tealwood Asset Management Inc. grew its position in shares of Amgen by 1.2% in the 1st quarter. Tealwood Asset Management Inc. now owns 5,277 shares of the medical research company’s stock worth $1,500,000 after buying an additional 64 shares during the last quarter. Finally, First Affirmative Financial Network raised its stake in shares of Amgen by 6.4% during the 1st quarter. First Affirmative Financial Network now owns 1,259 shares of the medical research company’s stock worth $358,000 after acquiring an additional 76 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays raised their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Bank of America upped their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Finally, Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and boosted their price target for the stock from $320.00 to $333.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $329.48.

Amgen Trading Down 0.1 %

Shares of NASDAQ:AMGN opened at $321.33 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The business has a 50 day moving average of $326.08 and a two-hundred day moving average of $311.63. The company has a market capitalization of $172.37 billion, a PE ratio of 45.90, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.00 earnings per share. As a group, analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.