Amgen Inc. (NASDAQ:AMGN) Stock Position Raised by Biltmore Family Office LLC

Biltmore Family Office LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 4.6% in the third quarter, HoldingsChannel.com reports. The fund owned 3,024 shares of the medical research company’s stock after buying an additional 133 shares during the quarter. Biltmore Family Office LLC’s holdings in Amgen were worth $974,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co grew its position in shares of Amgen by 2.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company’s stock worth $14,241,000 after acquiring an additional 1,311 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Amgen by 5.3% in the first quarter. Gamco Investors INC. ET AL now owns 5,431 shares of the medical research company’s stock valued at $1,544,000 after purchasing an additional 271 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Amgen by 4.4% during the first quarter. Lazard Asset Management LLC now owns 31,841 shares of the medical research company’s stock valued at $9,051,000 after buying an additional 1,353 shares during the last quarter. Steel Grove Capital Advisors LLC boosted its position in shares of Amgen by 30.5% during the first quarter. Steel Grove Capital Advisors LLC now owns 1,283 shares of the medical research company’s stock worth $365,000 after buying an additional 300 shares during the period. Finally, Kestra Advisory Services LLC grew its holdings in Amgen by 25.6% in the 1st quarter. Kestra Advisory Services LLC now owns 80,582 shares of the medical research company’s stock worth $22,911,000 after buying an additional 16,407 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Up 0.7 %

AMGN opened at $289.77 on Friday. The company has a market capitalization of $155.76 billion, a PE 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 fifty-two week low of $260.68 and a fifty-two week high of $346.85. The business has a 50-day moving average of $317.28 and a 200-day moving average of $318.02.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.96 earnings per share. Equities research analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.11%. Amgen’s dividend payout ratio is currently 115.24%.

Analysts Set New Price Targets

Several analysts have weighed in on AMGN shares. UBS Group cut their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and boosted their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. One research 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’s stock. According to data from MarketBeat.com, Amgen 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.