Amgen Inc. (NASDAQ:AMGN) Position Boosted by Virginia Wealth Management Group Inc.

Virginia Wealth Management Group Inc. lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 35.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,386 shares of the medical research company’s stock after purchasing an additional 3,009 shares during the quarter. Amgen makes up about 2.3% of Virginia Wealth Management Group Inc.’s holdings, making the stock its 21st biggest position. Virginia Wealth Management Group Inc.’s holdings in Amgen were worth $3,669,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Keynote Financial Services LLC raised its stake in Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after acquiring an additional 30 shares during the period. Ascent Group LLC boosted its stake in Amgen by 0.3% during 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 in the last quarter. RFP Financial Group LLC grew its holdings in Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after acquiring an additional 32 shares during the period. Hofer & Associates. Inc lifted its holdings in shares of Amgen by 0.5% during the second 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 last quarter. Finally, Cadinha & Co. LLC boosted its stake in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of Amgen stock traded up $1.82 during trading on Friday, hitting $322.83. The stock had a trading volume of 112,891 shares, compared to its average volume of 2,459,406. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The business’s 50-day moving average is $326.17 and its 200 day moving average is $310.22. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm has a market cap of $173.47 billion, a price-to-earnings ratio of 55.25, a P/E/G ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.00 earnings per share. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is currently 154.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AMGN shares. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald began coverage on shares of Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 target price for the company. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.30.

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.