Resonant Capital Advisors LLC Buys 89 Shares of Amgen Inc. (NASDAQ:AMGN)

Resonant Capital Advisors LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,222 shares of the medical research company’s stock after buying an additional 89 shares during the period. Resonant Capital Advisors LLC’s holdings in Amgen were worth $3,938,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after buying an additional 3,045,657 shares during the last quarter. Capital International Investors lifted its stake in shares of Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after purchasing an additional 162,223 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the period. Finally, Boston Partners lifted its stake in shares of Amgen by 27.4% in the 1st quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock valued at $635,179,000 after purchasing an additional 481,214 shares during the period. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMGN. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley dropped their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Sanford C. Bernstein initiated coverage on Amgen in a research note on Thursday. They issued an “outperform” rating and a $380.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $329.48.

Amgen Stock Performance

Shares of Amgen stock opened at $321.66 on Friday. The company has a market cap of $172.55 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The business has a 50 day moving average price of $326.07 and a 200-day moving average price of $312.15. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during 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% on a year-over-year basis. During the same period in the prior year, the company earned $5.00 earnings per share. Equities analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

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.