Gradient Capital Advisors LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN – Get Rating) by 18.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,573 shares of the medical research company’s stock after purchasing an additional 568 shares during the quarter. Gradient Capital Advisors LLC’s holdings in Amgen were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in AMGN. EdgeRock Capital LLC purchased a new stake in shares of Amgen in the third quarter worth approximately $25,000. Capital Wealth Alliance LLC bought a new position in Amgen during the second quarter valued at approximately $26,000. Coston McIsaac & Partners bought a new position in Amgen during the second quarter valued at approximately $27,000. Heritage Wealth Management LLC bought a new position in Amgen during the second quarter valued at approximately $28,000. Finally, Blue Bell Private Wealth Management LLC raised its position in Amgen by 420.0% during the second quarter. Blue Bell Private Wealth Management LLC now owns 130 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 105 shares in the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Nancy A. Grygiel sold 545 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $293.54, for a total value of $159,979.30. Following the sale, the senior vice president now owns 13,009 shares in the company, valued at approximately $3,818,661.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by corporate insiders.
Amgen Stock Performance
Amgen (NASDAQ:AMGN – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The medical research company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.43 by $0.27. Amgen had a net margin of 25.96% and a return on equity of 287.23%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the company earned $4.67 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. As a group, equities analysts predict that Amgen Inc. will post 17.62 EPS for the current fiscal year.
Amgen Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 8th. Stockholders of record on Wednesday, February 15th will be paid a $2.13 dividend. This represents a $8.52 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Tuesday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $1.94. Amgen’s payout ratio is currently 62.23%.
Analyst Upgrades and Downgrades
AMGN has been the topic of several recent research reports. SVB Leerink raised their price objective on shares of Amgen from $256.00 to $282.00 and gave the company a “market perform” rating in a research report on Thursday, December 22nd. Barclays raised their price objective on shares of Amgen from $234.00 to $240.00 and gave the company an “underweight” rating in a research report on Wednesday, January 18th. Morgan Stanley raised their price objective on shares of Amgen from $279.00 to $282.00 and gave the company an “overweight” rating in a research report on Friday, November 4th. Piper Sandler dropped their price target on shares of Amgen from $299.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, January 19th. Finally, Truist Financial lifted their price target on shares of Amgen from $266.00 to $280.00 and gave the company a “hold” rating in a research report on Tuesday, November 8th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $253.57.
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.
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