CWA Asset Management Group LLC Purchases New Holdings in Amgen Inc. (NASDAQ:AMGN)

CWA Asset Management Group LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,335 shares of the medical research company’s stock, valued at approximately $1,719,000.

A number of other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Amgen in the third quarter valued at $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the 2nd quarter worth about $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at about $30,000. nVerses Capital LLC bought a new position in shares of Amgen during the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen in the second quarter worth about $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 1.0 %

AMGN stock opened at $325.28 on Friday. The firm’s 50-day moving average is $323.61 and its two-hundred day moving average is $317.08. The company has a market capitalization of $174.85 billion, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 2.87 and a beta of 0.60. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. 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 announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS 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 return on equity of 168.35% and a net margin of 13.00%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.96 earnings per share. On average, analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company 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 dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 2.77%. Amgen’s dividend payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMGN shares. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Sanford C. Bernstein initiated coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, UBS Group lowered their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $333.50.

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.