Shepherd Financial Partners LLC Has $497,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Shepherd Financial Partners LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 11.6% in the third quarter, Holdings Channel reports. The institutional investor owned 1,543 shares of the medical research company’s stock after acquiring an additional 161 shares during the quarter. Shepherd Financial Partners LLC’s holdings in Amgen were worth $497,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMGN. Strategic Financial Concepts LLC acquired a new stake in Amgen during the second quarter valued at $26,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the 2nd quarter worth about $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN stock traded up $1.40 during trading on Friday, reaching $321.56. 354,613 shares of the stock were exchanged, compared to its average volume of 2,411,146. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. 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 company has a market capitalization of $172.78 billion, a P/E ratio of 40.99, a price-to-earnings-growth ratio of 2.84 and a beta of 0.61. The stock has a 50 day simple moving average of $324.66 and a 200-day simple moving average of $314.82.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 181.58% and a net margin of 13.00%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.96 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.48 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is 115.24%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMGN. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. TD Cowen raised their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $333.50.

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.