Souders Financial Advisors Raises Position in Amgen Inc. (NASDAQ:AMGN)

Souders Financial Advisors lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,174 shares of the medical research company’s stock after buying an additional 1,090 shares during the period. Souders Financial Advisors’ holdings in Amgen were worth $4,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen during the third quarter valued at approximately $25,000. Strategic Financial Concepts LLC acquired a new stake in Amgen during the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC acquired a new stake in Amgen during the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 7.1 %

Shares of Amgen stock opened at $298.84 on Wednesday. The firm has a market capitalization of $160.64 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.87 and a beta of 0.60. 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’s fifty day moving average price is $323.37 and its two-hundred day moving average price is $318.07. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.96 EPS. On average, analysts expect that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The business 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 dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Analyst Ratings Changes

Several brokerages have issued reports on AMGN. Robert W. Baird restated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. 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 report on Thursday, October 31st. TD Cowen increased their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $333.50.

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.