AlphaCore Capital LLC Has $1.29 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

AlphaCore Capital LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 13.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,006 shares of the medical research company’s stock after purchasing an additional 470 shares during the quarter. AlphaCore Capital LLC’s holdings in Amgen were worth $1,291,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Keynote Financial Services LLC raised its stake in shares of Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares during the period. Ascent Group LLC raised its holdings in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares during the period. Hofer & Associates. Inc lifted its position in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after buying an additional 32 shares during the last quarter. Cadinha & Co. LLC boosted its position in Amgen by 0.6% during the third 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. Finally, Lansing Street Advisors lifted its stake in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMGN shares. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $320.00 to $333.00 in a report on Monday, October 14th. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. TD Cowen lifted 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. Wolfe Research began coverage on shares of Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Trading Up 0.7 %

Shares of NASDAQ AMGN opened at $289.77 on Friday. The stock has a market cap of $155.76 billion, a P/E ratio of 37.10, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. 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 1 year low of $260.68 and a 1 year high of $346.85. The firm has a 50-day moving average of $317.28 and a 200 day moving average of $318.02.

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

Amgen Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.11%. Amgen’s dividend payout ratio is presently 115.24%.

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.