WealthPLAN Partners LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

WealthPLAN Partners LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 12.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 13,931 shares of the medical research company’s stock after acquiring an additional 1,594 shares during the period. WealthPLAN Partners LLC’s holdings in Amgen were worth $4,489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. Vanguard Group Inc. boosted its stake in Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares during the period. Capital International Investors boosted its position in shares of Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after acquiring an additional 5,923,915 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of Amgen by 33,125.4% in the third 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 period. Dimensional Fund Advisors LP grew 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 acquiring an additional 162,223 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Amgen by 6,812.4% during 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 acquiring an additional 2,486,882 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 1.1 %

Shares of NASDAQ:AMGN opened at $321.81 on Tuesday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The firm has a market capitalization of $172.98 billion, a P/E ratio of 41.20, a P/E/G ratio of 2.90 and a beta of 0.60. The stock has a 50 day moving average price of $323.61 and a 200-day moving average price of $317.70.

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, 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 firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the firm earned $4.96 EPS. The company’s 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 Dividend Announcement

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 paid 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 2.80%. Amgen’s payout ratio is currently 115.24%.

Analysts Set New Price Targets

Several research analysts have commented on AMGN shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and upped their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Barclays lifted 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. Finally, StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $333.50.

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.