Amgen Inc. (NASDAQ:AMGN) Shares Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 17.4% during the 3rd quarter, Holdings Channel reports. The firm owned 2,376 shares of the medical research company’s stock after buying an additional 352 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Amgen were worth $766,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Lantz Financial LLC raised its holdings in shares of Amgen by 5.1% in the 2nd quarter. Lantz Financial LLC now owns 1,779 shares of the medical research company’s stock valued at $556,000 after purchasing an additional 87 shares in the last quarter. Fiduciary Financial Group LLC acquired a new stake in shares of Amgen during the 2nd quarter worth about $390,000. Silver Lake Advisory LLC boosted its holdings in Amgen by 38.5% in the second quarter. Silver Lake Advisory LLC now owns 1,076 shares of the medical research company’s stock valued at $336,000 after purchasing an additional 299 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in Amgen in the second quarter valued at approximately $128,000. Finally, Miracle Mile Advisors LLC raised its holdings in Amgen by 5.2% during the second quarter. Miracle Mile Advisors LLC now owns 5,168 shares of the medical research company’s stock worth $1,615,000 after purchasing an additional 254 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Redburn Partners lowered their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Bank of America reaffirmed an “underperform” rating and set a $256.00 price objective on shares of Amgen in a report on Tuesday. Royal Bank of Canada reduced their target price on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Finally, TD Cowen lifted their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Amgen currently has an average rating of “Hold” and an average target price of $319.68.

Amgen Stock Down 0.8 %

AMGN opened at $273.41 on Thursday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 12 month low of $257.80 and a 12 month high of $346.85. The stock has a market capitalization of $146.97 billion, a P/E ratio of 35.01, a P/E/G ratio of 3.02 and a beta of 0.55. The business has a 50 day simple moving average of $304.80 and a 200-day simple moving average of $315.45.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the business posted $4.96 earnings per share. Amgen’s revenue was up 23.2% compared to the same quarter last year. On average, equities analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

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.