Darwin Wealth Management LLC Invests $219,000 in Amgen Inc. (NASDAQ:AMGN)

Darwin Wealth Management LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 679 shares of the medical research company’s stock, valued at approximately $219,000.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter valued at $25,000. Strategic Financial Concepts LLC bought a new position in Amgen in the 2nd quarter valued at $26,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter valued at $30,000. nVerses Capital LLC bought a new position in Amgen in the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in Amgen in the 2nd quarter valued at $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMGN shares. TD Cowen increased 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. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. UBS Group reduced their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and raised their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Price Performance

NASDAQ:AMGN opened at $287.87 on Thursday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock’s 50-day simple moving average is $318.08 and its 200 day simple moving average is $318.22. The company has a market cap of $154.74 billion, a P/E ratio of 36.86, a P/E/G ratio of 2.53 and a beta of 0.60. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.96 earnings per share. As a group, sell-side analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

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.