Phillips Financial Management LLC Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Phillips Financial Management LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 9.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 705 shares of the medical research company’s stock after buying an additional 61 shares during the quarter. Phillips Financial Management LLC’s holdings in Amgen were worth $227,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Amgen during the 3rd quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new position in shares of Amgen in the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC bought a new stake in Amgen during the 2nd quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen in the 2nd quarter worth approximately $33,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of AMGN stock opened at $283.61 on Monday. 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 fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a market capitalization of $152.45 billion, a P/E ratio of 36.31, a PEG ratio of 2.53 and a beta of 0.60. The stock has a 50 day moving average price of $320.85 and a two-hundred day moving average price of $318.65.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the company posted $4.96 EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts expect that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.17%. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent analyst reports. Bank of America boosted their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Citigroup started coverage on Amgen in a research report on Thursday. They set a “neutral” rating and a $335.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Amgen has a consensus 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.