Visionary Horizons LLC Buys 132 Shares of Amgen Inc. (NASDAQ:AMGN)

Visionary Horizons LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,269 shares of the medical research company’s stock after acquiring an additional 132 shares during the quarter. Amgen comprises 0.9% of Visionary Horizons LLC’s investment portfolio, making the stock its 16th largest position. Visionary Horizons LLC’s holdings in Amgen were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Meyer Handelman Co. raised its holdings in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Amgen by 11.0% during the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after buying an additional 2,353 shares during the last quarter. BNP Paribas bought a new position in shares of Amgen in the 1st quarter valued at about $4,772,000. Stanley Laman Group Ltd. acquired a new stake in shares of Amgen in the second quarter valued at about $3,354,000. Finally, Verity & Verity LLC raised its holdings in Amgen by 2.7% during the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after acquiring an additional 2,182 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of analyst reports. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and raised their price target for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. One 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. According to MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Price Performance

Shares of Amgen stock opened at $319.22 on Friday. The company has a 50-day simple moving average of $324.47 and a two-hundred day simple moving average of $315.19. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The stock has a market capitalization of $171.53 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last released 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 181.58%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the business earned $4.96 earnings per share. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. Analysts forecast that Amgen Inc. will post 19.48 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, November 18th. 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.