Encompass More Asset Management Raises Position in Amgen Inc. (NASDAQ:AMGN)

Encompass More Asset Management boosted its position in Amgen Inc. (NASDAQ:AMGN) by 13.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,342 shares of the medical research company’s stock after buying an additional 162 shares during the quarter. Encompass More Asset Management’s holdings in Amgen were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Amgen Stock Performance

AMGN stock opened at $282.87 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market capitalization of $152.05 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85. The stock’s 50 day simple moving average is $311.37 and its 200 day simple moving average is $317.14.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the company posted $4.96 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. As a group, research analysts forecast that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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 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 3.18%. Amgen’s dividend payout ratio is presently 115.24%.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday. Bank of America lifted their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and increased their price target for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $323.05.

Amgen Company Profile

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.