Planning Capital Management Corp Grows Stake in Amgen Inc. (NASDAQ:AMGN)

Planning Capital Management Corp lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 8.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 665 shares of the medical research company’s stock after purchasing an additional 53 shares during the period. Planning Capital Management Corp’s holdings in Amgen were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Capital International Investors boosted its stake in Amgen by 547.8% during the 1st 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 lifted its stake in shares of Amgen by 33,125.4% in the third 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 period. Vanguard Group Inc. lifted its stake in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $301.44 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $162.03 billion, a PE ratio of 38.60, a P/E/G ratio of 2.67 and a beta of 0.60. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The stock has a 50-day moving average price of $322.15 and a two-hundred day moving average price of $318.15.

Amgen (NASDAQ:AMGN) last issued 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 business had revenue of $8.50 billion during 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 previous year, the company posted $4.96 earnings per share. Analysts expect that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.99%. Amgen’s payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wells Fargo & Company downgraded shares of 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 report on Wednesday, August 7th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $320.00 to $333.00 in a report on Monday, October 14th. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Finally, UBS Group lowered their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.