Amgen Inc. (NASDAQ:AMGN) Position Increased by NorthRock Partners LLC

NorthRock Partners LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,228 shares of the medical research company’s stock after purchasing an additional 45 shares during the quarter. NorthRock Partners LLC’s holdings in Amgen were worth $1,362,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Strategic Financial Concepts LLC bought a new position in Amgen during the second quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the 2nd quarter valued at $30,000. nVerses Capital LLC bought a new position in shares of Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the 2nd quarter worth about $33,000. Finally, Matrix Trust Co bought a new stake in Amgen during the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 0.1 %

NASDAQ:AMGN traded up $0.23 during trading hours on Tuesday, reaching $317.14. The company had a trading volume of 246,217 shares, compared to its average volume of 2,406,219. The business’s 50-day simple moving average is $324.27 and its two-hundred day simple moving average is $316.29. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The firm has a market cap of $170.41 billion, a price-to-earnings ratio of 40.58, a P/E/G ratio of 2.81 and a beta of 0.60. 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 (NASDAQ:AMGN) last posted its quarterly 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 business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’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 earned $4.96 EPS. On average, equities analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 annualized dividend and a yield of 2.84%. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMGN. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $333.50.

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.