Diversify Wealth Management LLC Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Diversify Wealth Management LLC raised its position in Amgen Inc. (NASDAQ:AMGN) by 26.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,647 shares of the medical research company’s stock after acquiring an additional 973 shares during the quarter. Diversify Wealth Management LLC’s holdings in Amgen were worth $1,463,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Meyer Handelman Co. increased its position in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares during the period. EP Wealth Advisors LLC increased its position in shares of Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after acquiring an additional 2,353 shares during the period. BNP Paribas purchased a new position in shares of Amgen in the first quarter valued at about $4,772,000. Stanley Laman Group Ltd. purchased a new position in shares of Amgen during the second quarter valued at about $3,354,000. Finally, Verity & Verity LLC increased its position in shares of Amgen by 2.7% during the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock valued at $25,736,000 after buying an additional 2,182 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Barclays boosted their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Robert W. Baird reiterated an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Trading Down 0.1 %

Shares of NASDAQ AMGN opened at $315.54 on Thursday. The firm’s 50 day moving average price is $324.75 and its 200-day moving average price is $314.78. The company has a market cap of $169.27 billion, a PE ratio of 45.08, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last issued 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 firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.00 EPS. On average, equities research analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given 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 2.85%. Amgen’s dividend payout ratio (DPR) is 128.57%.

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.