Leo Wealth LLC Buys 257 Shares of Amgen Inc. (NASDAQ:AMGN)

Leo Wealth LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 6.1% during the third quarter, Holdings Channel.com reports. The fund owned 4,472 shares of the medical research company’s stock after purchasing an additional 257 shares during the quarter. Leo Wealth LLC’s holdings in Amgen were worth $1,441,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMGN. Eastern Bank lifted its position in shares of Amgen by 285.6% in the 3rd quarter. Eastern Bank now owns 7,354 shares of the medical research company’s stock worth $2,370,000 after purchasing an additional 5,447 shares during the period. Signaturefd LLC raised its stake in Amgen by 1.7% in the third quarter. Signaturefd LLC now owns 14,486 shares of the medical research company’s stock worth $4,668,000 after buying an additional 240 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Amgen by 9.5% during the third quarter. Sequoia Financial Advisors LLC now owns 134,582 shares of the medical research company’s stock worth $43,364,000 after buying an additional 11,679 shares during the period. Home Federal Bank of Tennessee boosted its position in Amgen by 4.0% during the 3rd quarter. Home Federal Bank of Tennessee now owns 2,598 shares of the medical research company’s stock valued at $837,000 after acquiring an additional 101 shares in the last quarter. Finally, DeDora Capital Inc. boosted its position in Amgen by 1.4% during the 3rd quarter. DeDora Capital Inc. now owns 5,436 shares of the medical research company’s stock valued at $1,752,000 after acquiring an additional 76 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on AMGN. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and boosted their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Bank of America lifted their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley lowered their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. TD Cowen upped their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $332.55.

Amgen Price Performance

Shares of AMGN stock traded up $2.53 during mid-day trading on Tuesday, hitting $319.27. 839,855 shares of the stock were exchanged, compared to its average volume of 2,435,475. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The firm has a fifty day moving average of $326.00 and a 200 day moving average of $312.76. The company has a market cap of $171.27 billion, a PE ratio of 45.06, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period in the previous year, the company earned $5.00 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. Research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.82%. Amgen’s dividend payout ratio (DPR) is 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.