Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. raised its position in Amgen Inc. (NASDAQ:AMGN) by 2.0% in the third quarter, HoldingsChannel reports. The fund owned 1,588,440 shares of the medical research company’s stock after purchasing an additional 30,731 shares during the quarter. Amgen makes up approximately 5.3% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 6th largest holding. Montrusco Bolton Investments Inc.’s holdings in Amgen were worth $500,527,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the third quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Amgen during the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC purchased a new position in shares of Amgen during the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of Amgen during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $294.53 on Friday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52-week low of $260.68 and a 52-week high of $346.85. The firm has a market cap of $158.32 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 2.50 and a beta of 0.60. The business’s fifty day moving average is $316.52 and its 200 day moving average is $317.98.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the company posted $4.96 EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 19.51 EPS 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 issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Analyst Ratings Changes

Several research analysts recently issued reports on AMGN shares. Citigroup started coverage on Amgen in a research report on Thursday, November 14th. They set a “neutral” rating and a $335.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Bank of America boosted their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $333.57.

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.