Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Resources Management Corp CT ADV

Resources Management Corp CT ADV increased its stake in Amgen Inc. (NASDAQ:AMGN) by 8.9% in the third quarter, Holdings Channel reports. The institutional investor owned 5,065 shares of the medical research company’s stock after acquiring an additional 415 shares during the quarter. Resources Management Corp CT ADV’s holdings in Amgen were worth $1,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after buying an additional 1,872 shares during the last quarter. Napa Wealth Management bought a new stake in shares of Amgen in the third quarter worth $1,104,000. HighVista Strategies LLC bought a new stake in shares of Amgen in the third quarter worth $3,255,000. Swiss National Bank increased its stake in shares of Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after buying an additional 5,500 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its stake in shares of Amgen by 40.1% in the third quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock worth $2,433,000 after buying an additional 2,163 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 28th. UBS Group lowered their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, TD Cowen boosted their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $323.05.

Amgen Stock Performance

AMGN stock opened at $277.63 on Tuesday. The company has a market capitalization of $149.23 billion, a P/E ratio of 35.55, a PEG ratio of 3.02 and a beta of 0.55. The company has a 50-day simple moving average of $305.69 and a 200 day simple moving average of $315.66. Amgen Inc. has a fifty-two week low of $257.80 and a fifty-two week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The business 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 quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.96 earnings per share. Sell-side analysts predict that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 18th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

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.