Howe & Rusling Inc. Purchases 151 Shares of Amgen Inc. (NASDAQ:AMGN)

Howe & Rusling Inc. raised its stake in Amgen Inc. (NASDAQ:AMGN) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,858 shares of the medical research company’s stock after purchasing an additional 151 shares during the quarter. Howe & Rusling Inc.’s holdings in Amgen were worth $1,565,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter valued at approximately $25,000. Hershey Financial Advisers LLC purchased a new stake in Amgen in the second quarter worth $30,000. nVerses Capital LLC purchased a new stake in Amgen in the second quarter worth $31,000. Bbjs Financial Advisors LLC purchased a new stake in Amgen in the second quarter worth $33,000. Finally, Matrix Trust Co purchased a new stake in shares of Amgen in the third quarter worth $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $279.95 on Wednesday. The company has a market cap of $150.48 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. The stock’s 50 day simple moving average is $318.92 and its 200-day simple moving average is $318.43. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. 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 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. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the business posted $4.96 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.21%. Amgen’s dividend payout ratio is presently 115.24%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Finally, Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and raised their price objective for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.