49 Wealth Management LLC Invests $270,000 in Amgen Inc. (NASDAQ:AMGN)

49 Wealth Management LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the third quarter, HoldingsChannel.com reports. The fund purchased 837 shares of the medical research company’s stock, valued at approximately $270,000.

A number of other hedge funds also recently modified their holdings of the business. Keynote Financial Services LLC grew its position in Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the period. Ascent Group LLC grew its position in Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares during the period. Hofer & Associates. Inc grew its position in Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the period. Cadinha & Co. LLC grew its position in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the period. Finally, Lansing Street Advisors grew its position in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 1.6 %

Shares of Amgen stock opened at $294.53 on Friday. Amgen Inc. has a 52-week low of $260.68 and a 52-week high of $346.85. The stock’s 50-day simple moving average is $316.52 and its 200 day simple moving average is $317.98. The stock has a market capitalization of $158.32 billion, a P/E ratio of 37.71, a P/E/G ratio of 2.50 and a beta of 0.60. 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 announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the business posted $4.96 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, research analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

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

Analysts Set New Price Targets

AMGN has been the subject of several research reports. Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Citigroup initiated coverage on Amgen in a research note on Thursday, November 14th. They set a “neutral” rating and a $335.00 price objective on the stock. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. TD Cowen raised their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Company 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.