Independent Advisor Alliance Acquires 1,776 Shares of Amgen Inc. (NASDAQ:AMGN)

Independent Advisor Alliance grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,999 shares of the medical research company’s stock after purchasing an additional 1,776 shares during the quarter. Independent Advisor Alliance’s holdings in Amgen were worth $9,022,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd boosted its stake in shares of Amgen by 44.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 27,496 shares of the medical research company’s stock worth $8,856,000 after acquiring an additional 8,524 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Amgen by 21.3% in the 3rd quarter. Fisher Asset Management LLC now owns 102,352 shares of the medical research company’s stock worth $32,979,000 after purchasing an additional 17,974 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Amgen by 7.6% during the third quarter. Daiwa Securities Group Inc. now owns 182,475 shares of the medical research company’s stock valued at $58,795,000 after purchasing an additional 12,932 shares during the last quarter. Marco Investment Management LLC raised its position in shares of Amgen by 0.6% in the third quarter. Marco Investment Management LLC now owns 39,277 shares of the medical research company’s stock valued at $12,655,000 after purchasing an additional 225 shares during the period. Finally, Summit Trail Advisors LLC lifted its stake in shares of Amgen by 40.1% in the third quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock worth $2,433,000 after buying an additional 2,163 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and increased their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Stock Performance

NASDAQ AMGN opened at $294.53 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a market cap of $158.32 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 2.63 and a beta of 0.60. The business has a 50-day moving average price of $316.52 and a 200-day moving average price of $318.18. Amgen Inc. has a twelve month low of $260.68 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 EPS. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts predict that Amgen Inc. will post 19.52 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.06%. Amgen’s dividend payout ratio (DPR) 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.