Balboa Wealth Partners Has $579,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Balboa Wealth Partners boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 50.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,797 shares of the medical research company’s stock after acquiring an additional 603 shares during the quarter. Balboa Wealth Partners’ holdings in Amgen were worth $579,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the 3rd quarter valued at $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen during the 2nd quarter worth about $26,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $30,000. nVerses Capital LLC acquired a new position in Amgen in the second quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in Amgen during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $295.93 on Friday. The business has a 50 day moving average of $322.15 and a 200-day moving average of $318.15. 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. The company has a market capitalization of $159.07 billion, a P/E ratio of 37.89, a P/E/G ratio of 2.69 and a beta of 0.60.

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

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AMGN shares. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target on shares of Amgen in a report on Tuesday. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Finally, Barclays increased their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

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.