Stablepoint Partners LLC Has $7.20 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Stablepoint Partners LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 22,334 shares of the medical research company’s stock after buying an additional 1,860 shares during the quarter. Amgen accounts for approximately 1.3% of Stablepoint Partners LLC’s portfolio, making the stock its 15th biggest position. Stablepoint Partners LLC’s holdings in Amgen were worth $7,196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in Amgen during the 2nd quarter valued at $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the second quarter valued at about $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen in the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC bought a new position in Amgen in the 2nd quarter valued at about $33,000. Finally, Matrix Trust Co acquired a new position in Amgen during the 3rd quarter valued at about $36,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AMGN shares. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and raised their target price for the company from $320.00 to $333.00 in a report on Monday. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Cantor Fitzgerald assumed coverage on shares of Amgen in a report on Friday, September 27th. They set an “overweight” rating and a $405.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price of $326.95.

Amgen Stock Performance

Shares of Amgen stock traded down $4.56 during trading hours on Monday, reaching $323.79. The company had a trading volume of 119,829 shares, compared to its average volume of 2,454,884. The firm has a market cap of $173.69 billion, a PE ratio of 46.91, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The business has a fifty day simple moving average of $326.06 and a 200 day simple moving average of $310.92.

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

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.78%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

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.