Amgen Inc. (NASDAQ:AMGN) Stake Boosted by Parcion Private Wealth LLC

Parcion Private Wealth LLC raised its position in Amgen Inc. (NASDAQ:AMGN) by 83.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,887 shares of the medical research company’s stock after purchasing an additional 1,317 shares during the quarter. Parcion Private Wealth LLC’s holdings in Amgen were worth $930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Asset Advisory Services LLC boosted its holdings in Amgen by 18.7% in the first quarter. Capital Asset Advisory Services LLC now owns 1,759 shares of the medical research company’s stock worth $475,000 after purchasing an additional 277 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Amgen by 37.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock valued at $3,310,000 after acquiring an additional 3,168 shares in the last quarter. Griffin Asset Management Inc. increased its stake in Amgen by 12.3% in the first quarter. Griffin Asset Management Inc. now owns 911 shares of the medical research company’s stock valued at $259,000 after acquiring an additional 100 shares during the period. Symphony Financial Ltd. Co. raised its position in Amgen by 3.5% in the first quarter. Symphony Financial Ltd. Co. now owns 8,260 shares of the medical research company’s stock worth $2,349,000 after purchasing an additional 277 shares in the last quarter. Finally, Brown Miller Wealth Management LLC raised its stake in Amgen by 1.1% during the first quarter. Brown Miller Wealth Management LLC now owns 6,703 shares of the medical research company’s stock worth $1,905,000 after acquiring an additional 71 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research reports. TD Cowen lifted their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday. Morgan Stanley cut their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Stock Up 0.4 %

Shares of NASDAQ:AMGN opened at $316.98 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a market capitalization of $170.04 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a fifty day moving average of $325.49 and a 200-day moving average of $313.47.

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

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.84%. Amgen’s payout ratio is 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.