643 Shares in Amgen Inc. (NASDAQ:AMGN) Purchased by Truepoint Inc.

Truepoint Inc. bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 643 shares of the medical research company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hamilton Point Investment Advisors LLC raised its stake in Amgen by 1.0% in the third quarter. Hamilton Point Investment Advisors LLC now owns 34,682 shares of the medical research company’s stock valued at $11,175,000 after buying an additional 359 shares during the period. Kingsview Wealth Management LLC grew its position in Amgen by 37.8% during the third quarter. Kingsview Wealth Management LLC now owns 45,272 shares of the medical research company’s stock worth $14,587,000 after buying an additional 12,430 shares in the last quarter. Cerity Partners LLC grew its position in Amgen by 14.5% during the third quarter. Cerity Partners LLC now owns 395,273 shares of the medical research company’s stock worth $127,361,000 after buying an additional 50,034 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in Amgen by 130.4% during the third quarter. Great Valley Advisor Group Inc. now owns 17,908 shares of the medical research company’s stock worth $5,770,000 after buying an additional 10,136 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its stake in Amgen by 2.0% during the third quarter. Montrusco Bolton Investments Inc. now owns 1,588,440 shares of the medical research company’s stock worth $500,527,000 after purchasing an additional 30,731 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $294.53 on Friday. The company has a 50-day simple moving average of $316.52 and a two-hundred day simple moving average of $318.11. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $260.68 and a 12-month high of $346.85. The firm has a market cap of $158.32 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 2.59 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during 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%. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.96 earnings per share. On average, equities analysts forecast that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Announces Dividend

The company 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 dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.06%. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research reports. Citigroup initiated coverage on Amgen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $335.00 price target for the company. Wolfe Research started coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Bank of America raised their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus 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.