Concord Wealth Partners Has $2.75 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Concord Wealth Partners boosted its position in Amgen Inc. (NASDAQ:AMGN) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,524 shares of the medical research company’s stock after purchasing an additional 341 shares during the period. Concord Wealth Partners’ holdings in Amgen were worth $2,747,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the 2nd quarter valued at $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the second quarter worth $30,000. nVerses Capital LLC bought a new stake in Amgen in the second quarter valued at $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the second quarter valued at about $33,000. Finally, Matrix Trust Co bought a new position in shares of Amgen during the 3rd quarter worth about $36,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMGN. TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $332.55.

Amgen Stock Performance

Shares of AMGN stock traded up $2.44 during trading hours on Monday, hitting $319.42. 403,019 shares of the company were exchanged, compared to its average volume of 2,418,230. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $171.35 billion, a price-to-earnings ratio of 45.28, a P/E/G ratio of 2.86 and a beta of 0.61. The firm has a fifty day simple moving average of $325.49 and a 200 day simple moving average of $314.10. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the business posted $5.00 EPS. Research analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s payout ratio is currently 128.57%.

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.