Cetera Advisor Networks LLC Has $31.62 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Cetera Advisor Networks LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,213 shares of the medical research company’s stock after purchasing an additional 1,842 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Amgen were worth $31,620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BIP Wealth LLC grew its stake in Amgen by 2.6% during the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after acquiring an additional 32 shares in the last quarter. RFP Financial Group LLC grew its stake in Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 32 shares in the last quarter. Marino Stram & Associates LLC grew its stake in Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after acquiring an additional 34 shares in the last quarter. NTV Asset Management LLC grew its stake in Amgen by 0.3% during the first quarter. NTV Asset Management LLC now owns 10,961 shares of the medical research company’s stock valued at $3,116,000 after acquiring an additional 34 shares in the last quarter. Finally, Texas Yale Capital Corp. grew its stake in Amgen by 0.3% during the first quarter. Texas Yale Capital Corp. now owns 10,097 shares of the medical research company’s stock valued at $2,871,000 after acquiring an additional 34 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Down 0.5 %

Amgen stock traded down $1.54 during mid-day trading on Friday, reaching $333.99. The stock had a trading volume of 2,106,216 shares, compared to its average volume of 1,890,833. The company has a market capitalization of $179.16 billion, a price-to-earnings ratio of 47.71, a PEG ratio of 2.78 and a beta of 0.58. The company has a 50-day moving average price of $316.30 and a two-hundred day moving average price of $298.33. Amgen Inc. has a one year low of $228.21 and a one year high of $346.85. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. Amgen’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.98 EPS. On average, analysts expect that Amgen Inc. will post 19.5 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, August 16th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.69%. Amgen’s payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMGN. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Mizuho lifted their target price on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Morgan Stanley dropped their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. BMO Capital Markets lifted their target price on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $312.63.

Amgen Company 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.