Wescott Financial Advisory Group LLC Acquires New Holdings in Amgen Inc. (NASDAQ:AMGN)

Wescott Financial Advisory Group LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGNFree Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 783 shares of the medical research company’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management purchased a new position in Amgen during the third quarter worth approximately $26,000. Briaud Financial Planning Inc acquired a new position in shares of Amgen during the 3rd quarter worth about $26,000. IAG Wealth Partners LLC raised its position in shares of Amgen by 520.0% during the 2nd quarter. IAG Wealth Partners LLC now owns 124 shares of the medical research company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of Amgen during the 2nd quarter worth about $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Amgen during the 1st quarter worth about $28,000. Institutional investors and hedge funds own 74.44% of the company’s stock.

Amgen Price Performance

Shares of AMGN opened at $291.12 on Friday. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The stock has a market cap of $155.80 billion, a PE ratio of 23.31, a P/E/G ratio of 2.78 and a beta of 0.62. The firm has a 50-day simple moving average of $295.30 and a two-hundred day simple moving average of $274.19. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 2.56.

Amgen (NASDAQ:AMGNGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same period last year, the business earned $4.09 earnings per share. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, analysts forecast that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Friday, February 16th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.09%. This is a boost from Amgen’s previous quarterly dividend of $2.13. The ex-dividend date of this dividend is Thursday, February 15th. Amgen’s dividend payout ratio (DPR) is 68.21%.

Analyst Ratings Changes

Several research firms recently weighed in on AMGN. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada upped their price target on shares of Amgen from $303.00 to $329.00 and gave the stock an “outperform” rating in a research report on Wednesday. Argus upped their target price on shares of Amgen from $280.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. BMO Capital Markets raised shares of Amgen from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $286.00 to $326.00 in a report on Tuesday, December 19th. Finally, UBS Group dropped their target price on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $295.30.

View Our Latest Stock Report on AMGN

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,096 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the transaction, the senior vice president now directly owns 10,874 shares in the company, valued at approximately $2,968,928.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Amgen Company Profile

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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