Belmont Capital LLC Acquires 533 Shares of Amgen Inc. (NASDAQ:AMGN)

Belmont Capital LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 88.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,139 shares of the medical research company’s stock after purchasing an additional 533 shares during the quarter. Belmont Capital LLC’s holdings in Amgen were worth $367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new position in Amgen during the third quarter valued at approximately $25,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC bought a new position in Amgen in the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC bought a new position in Amgen in the 2nd quarter worth $33,000. Finally, Matrix Trust Co purchased a new stake in Amgen in the 3rd quarter worth $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMGN shares. Citigroup initiated coverage on shares of Amgen in a report on Thursday, November 14th. They set a “neutral” rating and a $335.00 price objective for the company. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and increased their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Finally, TD Cowen increased their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Down 0.9 %

Amgen stock opened at $278.76 on Tuesday. The stock has a 50 day moving average of $319.90 and a two-hundred day moving average of $318.65. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The stock has a market capitalization of $149.84 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.53 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued 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 business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.96 earnings per share. As a group, research analysts expect that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The company 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 $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

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.