Joseph Group Capital Management Buys 1,169 Shares of Amgen Inc. (NASDAQ:AMGN)

Joseph Group Capital Management lifted its position in Amgen Inc. (NASDAQ:AMGN) by 15.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,633 shares of the medical research company’s stock after purchasing an additional 1,169 shares during the period. Amgen comprises approximately 1.1% of Joseph Group Capital Management’s portfolio, making the stock its 27th biggest holding. Joseph Group Capital Management’s holdings in Amgen were worth $2,782,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AMGN. Capital International Investors boosted its holdings in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Pathway Financial Advisers LLC raised its position in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after buying an additional 2,486,882 shares during the period. Janus Henderson Group PLC grew its position in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after buying an additional 1,377,007 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after buying an additional 1,306,982 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 0.9 %

AMGN stock opened at $278.76 on Tuesday. The business’s 50-day moving average is $319.90 and its two-hundred day moving average is $318.65. The company has a market cap of $149.84 billion, a price-to-earnings ratio of 35.69, a P/E/G ratio of 2.53 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the firm posted $4.96 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.23%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analysts Set New Price Targets

AMGN has been the subject of a number of research analyst reports. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Barclays lifted their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and increased their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Citigroup started coverage on Amgen in a research report on Thursday, November 14th. They set a “neutral” rating and a $335.00 price objective on the stock. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price on shares of Amgen in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen 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.