Kingsview Wealth Management LLC Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Kingsview Wealth Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 37.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 45,272 shares of the medical research company’s stock after purchasing an additional 12,430 shares during the period. Kingsview Wealth Management LLC’s holdings in Amgen were worth $14,587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Amgen during the 3rd quarter valued at $25,000. Strategic Financial Concepts LLC bought a new position in shares of Amgen in the second quarter worth $26,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen in the second quarter worth $30,000. nVerses Capital LLC bought a new position in shares of Amgen in the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen in the second quarter worth $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. UBS Group decreased their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. TD Cowen upped their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Oppenheimer reiterated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Finally, Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Price Performance

AMGN stock opened at $294.53 on Friday. Amgen Inc. has a 1 year low of $260.68 and a 1 year high of $346.85. The company has a market cap of $158.32 billion, a P/E ratio of 37.71, a PEG ratio of 2.59 and a beta of 0.60. The firm has a 50-day moving average of $316.52 and a 200 day moving average of $317.98. 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 (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the firm earned $4.96 earnings per share. Amgen’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts forecast that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.06%. Amgen’s payout ratio is 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.