Atlanta Consulting Group Advisors LLC Acquires New Position in Amgen Inc. (NASDAQ:AMGN)

Atlanta Consulting Group Advisors LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,471 shares of the medical research company’s stock, valued at approximately $796,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the 3rd quarter valued at $25,000. Hershey Financial Advisers LLC purchased a new stake in Amgen during the second quarter valued at about $30,000. nVerses Capital LLC bought a new position in shares of Amgen during the second quarter valued at about $31,000. Bbjs Financial Advisors LLC purchased a new position in shares of Amgen in the second quarter worth about $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen in the 3rd quarter valued at about $36,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Down 4.2 %

Amgen stock opened at $283.61 on Friday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The stock has a market capitalization of $152.45 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. The business’s fifty day moving average is $320.85 and its 200 day moving average is $318.36. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the business posted $4.96 EPS. On average, sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The firm 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 annualized dividend and a yield of 3.17%. Amgen’s payout ratio is presently 115.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and boosted their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. Citigroup started coverage on shares of Amgen in a research report on Thursday. They issued a “neutral” rating and a $335.00 target price for the company. Finally, UBS Group lowered their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.