D.A. Davidson & CO. Has $70.16 Million Stake in Amgen Inc. (NASDAQ:AMGN)

D.A. Davidson & CO. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 217,734 shares of the medical research company’s stock after purchasing an additional 5,056 shares during the period. D.A. Davidson & CO.’s holdings in Amgen were worth $70,156,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Meyer Handelman Co. lifted its position in shares of Amgen by 7.2% during the 2nd 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. First Horizon Advisors Inc. raised its stake in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares in the last quarter. Swiss National Bank raised its stake in Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after purchasing an additional 5,500 shares in the last quarter. Napa Wealth Management bought a new stake in Amgen during the third quarter worth about $1,104,000. Finally, Second Half Financial Partners LLC acquired a new stake in Amgen during the third quarter worth about $3,413,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Barclays raised their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. UBS Group reduced their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Citigroup assumed coverage on Amgen in a research note on Thursday, November 14th. They set a “neutral” rating and a $335.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $333.57.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $294.00 on Tuesday. 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 company has a market capitalization of $158.03 billion, a PE ratio of 37.64, a P/E/G ratio of 2.63 and a beta of 0.60. The firm has a fifty day simple moving average of $315.69 and a 200 day simple moving average of $318.05. Amgen Inc. has a twelve month low of $260.68 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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. 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 the consensus estimate of $8.50 billion. During the same period in the previous year, the business earned $4.96 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts forecast that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 3.06%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

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.