Prestige Wealth Management Group LLC Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

Prestige Wealth Management Group LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,387 shares of the medical research company’s stock after buying an additional 38 shares during the period. Prestige Wealth Management Group LLC’s holdings in Amgen were worth $447,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMGN. Pathway Financial Advisers LLC raised its position in Amgen by 33,125.4% during 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 acquiring an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC increased its holdings in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after purchasing an additional 748,200 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after purchasing an additional 538,545 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $277.63 on Tuesday. Amgen Inc. has a 1 year low of $257.80 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a market capitalization of $149.23 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55. The business has a 50 day simple moving average of $305.69 and a 200-day simple moving average of $315.66.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the business earned $4.96 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 18th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several analyst reports. Robert W. Baird restated an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Barclays upped their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Royal Bank of Canada dropped their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus target price of $323.05.

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.