Quantum Private Wealth LLC Has $1.05 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Quantum Private Wealth LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,245 shares of the medical research company’s stock after acquiring an additional 313 shares during the period. Quantum Private Wealth LLC’s holdings in Amgen were worth $1,046,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Meyer Handelman Co. boosted its stake in Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the period. EP Wealth Advisors LLC grew its stake in shares of Amgen by 11.0% during the first 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. Stanley Laman Group Ltd. acquired a new position in shares of Amgen during the second quarter worth $3,354,000. Verity & Verity LLC lifted its holdings in shares of 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 purchasing an additional 2,182 shares during the period. Finally, Matrix Asset Advisors Inc. NY lifted its holdings in Amgen by 9.3% in the second quarter. Matrix Asset Advisors Inc. NY now owns 45,068 shares of the medical research company’s stock valued at $14,081,000 after buying an additional 3,845 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and raised their target price for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Finally, Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average price target of $333.50.

Amgen Price Performance

AMGN stock opened at $321.91 on Friday. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $173.04 billion, a PE ratio of 41.22, a P/E/G ratio of 2.79 and a beta of 0.60. The stock’s 50 day moving average is $323.96 and its two-hundred day moving average is $316.68.

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

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 2.80%. Amgen’s payout ratio is presently 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.