Empirical Finance LLC Acquires 380 Shares of Amgen Inc. (NASDAQ:AMGN)

Empirical Finance LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,754 shares of the medical research company’s stock after acquiring an additional 380 shares during the quarter. Empirical Finance LLC’s holdings in Amgen were worth $6,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the 3rd quarter valued at $25,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the second quarter valued at about $30,000. nVerses Capital LLC bought a new stake in shares of Amgen during the second quarter valued at about $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the second quarter worth about $33,000. Finally, Matrix Trust Co bought a new position in shares of Amgen in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.2 %

Shares of AMGN stock opened at $295.21 on Friday. The business has a 50-day moving average of $322.15 and a 200 day moving average of $318.15. 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 1-year low of $260.52 and a 1-year high of $346.85. The stock has a market capitalization of $158.68 billion, a PE ratio of 37.89, a P/E/G ratio of 2.69 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the firm 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, sell-side analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed 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. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMGN shares. Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. 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. Bank of America raised their price target on 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 cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.