Ingalls & Snyder LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 0.3% during the third quarter, Holdings Channel.com reports. The firm owned 15,460 shares of the medical research company’s stock after purchasing an additional 50 shares during the quarter. Ingalls & Snyder LLC’s holdings in Amgen were worth $4,981,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen in the 3rd quarter worth approximately $25,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC purchased a new position in Amgen in the second quarter worth $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the second quarter worth about $33,000. Finally, Matrix Trust Co acquired a new stake in Amgen in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Citigroup lowered their price target on Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and raised their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $323.05.
Amgen Price Performance
AMGN traded up $0.38 during midday trading on Tuesday, hitting $278.48. 404,194 shares of the company traded hands, compared to its average volume of 2,567,121. The business has a 50 day simple moving average of $311.37 and a two-hundred 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. The company has a market capitalization of $149.69 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 3.13 and a beta of 0.55. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.
Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the company posted $4.96 EPS. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.
Amgen Dividend Announcement
The company also recently disclosed 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 is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.23%. 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.
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