PDS Planning Inc Boosts Stake in Amgen Inc. (NASDAQ:AMGN)

PDS Planning Inc increased its position in Amgen Inc. (NASDAQ:AMGN) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,349 shares of the medical research company’s stock after purchasing an additional 76 shares during the quarter. PDS Planning Inc’s holdings in Amgen were worth $757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC bought a new position in shares of Amgen in the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen during the 2nd quarter valued at about $33,000. Matrix Trust Co bought a new stake in Amgen during the third quarter worth about $36,000. Finally, FSA Wealth Management LLC grew its holdings in Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Finally, TD Cowen raised their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $0.15 during midday trading on Monday, hitting $319.37. 183,974 shares of the company’s stock traded hands, compared to its average volume of 2,407,601. The firm has a fifty day moving average of $324.47 and a 200 day moving average of $315.90. Amgen Inc. has a 1 year low of $260.52 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.89 and a current ratio of 1.32. The stock has a market capitalization of $171.61 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the business posted $4.96 EPS. Amgen’s revenue was up 23.2% on a year-over-year basis. On average, analysts forecast that Amgen Inc. will post 19.45 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s payout ratio is currently 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.