Trinity Legacy Partners LLC Raises Stock Position in Amgen Inc. (NASDAQ:AMGN)

Trinity Legacy Partners LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,382 shares of the medical research company’s stock after purchasing an additional 239 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Amgen were worth $4,993,000 at the end of the most recent reporting period.

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

Amgen Stock Up 0.0 %

Amgen stock opened at $321.91 on Friday. The stock’s 50 day moving average price is $323.96 and its 200 day moving average price is $316.68. The company has a market cap of $173.04 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 2.79 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. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate 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 net margin of 13.00% and a return on equity of 168.35%. During the same period in the previous year, the firm earned $4.96 EPS. The business’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

A number of research firms recently weighed in on AMGN. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Morgan Stanley lowered their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

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.