Intelligence Driven Advisers LLC Increases Position in Amgen Inc. (NASDAQ:AMGN)

Intelligence Driven Advisers LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 48.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 964 shares of the medical research company’s stock after purchasing an additional 315 shares during the period. Intelligence Driven Advisers LLC’s holdings in Amgen were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen during the third quarter valued at approximately $25,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the 2nd quarter worth $30,000. nVerses Capital LLC purchased a new position in shares of Amgen in the second quarter valued at about $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the second quarter valued at about $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen in the third quarter worth about $36,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Amgen stock traded down $5.56 during trading on Thursday, reaching $295.88. The company had a trading volume of 232,729 shares, compared to its average volume of 2,425,949. The firm has a market capitalization of $159.04 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 2.67 and a beta of 0.60. 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 firm’s 50-day simple moving average is $322.15 and its 200 day simple moving average is $318.15. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm 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 business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.96 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. 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 research note on Wednesday, August 7th. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and boosted their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. UBS Group reduced their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein initiated coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. One equities 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $333.57.

About Amgen

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.