Amgen Inc. (NASDAQ:AMGN) Shares Purchased by LPL Financial LLC

LPL Financial LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 751,945 shares of the medical research company’s stock after purchasing an additional 4,999 shares during the quarter. LPL Financial LLC owned approximately 0.14% of Amgen worth $242,284,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen in the 3rd quarter worth $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Amgen in the 2nd quarter worth $26,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter worth $30,000. nVerses Capital LLC purchased a new position in shares of Amgen in the 2nd quarter worth $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of Amgen in the 2nd quarter worth $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $289.77 on Friday. The company has a market cap of $155.76 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. Amgen Inc. has a twelve month low of $260.68 and a twelve month high of $346.85. The company’s 50 day moving average is $317.28 and its 200 day moving average is $318.02. 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 posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm posted $4.96 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 3.11%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Sanford C. Bernstein assumed coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Finally, TD Cowen raised their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

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.