BIP Wealth LLC Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

BIP Wealth LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 4.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,108 shares of the medical research company’s stock after buying an additional 44 shares during the period. BIP Wealth LLC’s holdings in Amgen were worth $357,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Capital International Investors boosted its position in Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Amgen by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after buying an additional 162,223 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Finally, Janus Henderson Group PLC raised its position in Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after buying an additional 1,377,007 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMGN. Wolfe Research assumed coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Barclays upped their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Performance

Shares of Amgen stock opened at $279.95 on Wednesday. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $150.48 billion, a PE ratio of 35.85, a PEG ratio of 2.53 and a beta of 0.60. The stock’s fifty day simple moving average is $318.92 and its 200 day simple moving average is $318.43.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates 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 168.35% and a net margin of 13.00%. Amgen’s revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.96 earnings per share. On average, research analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.21%. Amgen’s dividend payout ratio is currently 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.