940 Shares in Amgen Inc. (NASDAQ:AMGN) Purchased by Dudley Capital Management LLC

Dudley Capital Management LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 940 shares of the medical research company’s stock, valued at approximately $303,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its holdings in Amgen by 5.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 64,427 shares of the medical research company’s stock worth $18,318,000 after buying an additional 3,246 shares in the last quarter. AIA Group Ltd purchased a new position in Amgen during the 1st quarter worth $612,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Amgen by 33.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,498 shares of the medical research company’s stock worth $2,132,000 after acquiring an additional 1,860 shares in the last quarter. Nelson Capital Management LLC raised its holdings in shares of Amgen by 18.4% in the first quarter. Nelson Capital Management LLC now owns 18,654 shares of the medical research company’s stock valued at $5,304,000 after purchasing an additional 2,901 shares during the last quarter. Finally, Capital Wealth Planning LLC lifted its position in shares of Amgen by 28,684.1% during the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after purchasing an additional 830,405 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $321.91 on Friday. The company has a 50 day moving average of $323.96 and a 200 day moving average of $316.68. 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 cap of $173.04 billion, a P/E ratio of 41.22, a P/E/G ratio of 2.79 and a beta of 0.60. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85.

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

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMGN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and lifted their price target for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen 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.