Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Blackston Financial Advisory Group LLC

by · The Cerbat Gem

Blackston Financial Advisory Group LLC lifted its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 936 shares of the medical research company’s stock after purchasing an additional 88 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in Amgen were worth $302,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Ballentine Partners LLC grew its position in Amgen by 19.2% in the third quarter. Ballentine Partners LLC now owns 13,895 shares of the medical research company’s stock worth $4,477,000 after acquiring an additional 2,235 shares during the period. Cross Staff Investments Inc acquired a new position in shares of Amgen in the 3rd quarter valued at $202,000. West Michigan Advisors LLC grew its holdings in shares of Amgen by 7.8% during the 3rd quarter. West Michigan Advisors LLC now owns 1,638 shares of the medical research company’s stock worth $528,000 after purchasing an additional 119 shares during the period. Harbour Trust & Investment Management Co increased its position in shares of Amgen by 1.1% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 5,035 shares of the medical research company’s stock worth $1,622,000 after purchasing an additional 57 shares during the last quarter. Finally, Schmidt P J Investment Management Inc. raised its holdings in Amgen by 1.4% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,876 shares of the medical research company’s stock valued at $927,000 after buying an additional 40 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. Bank of America increased their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday. Finally, Argus boosted their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $332.55.

Read Our Latest Stock Report on Amgen

Amgen Stock Up 0.3 %

Shares of NASDAQ AMGN opened at $315.69 on Friday. The business has a 50-day moving average of $325.77 and a two-hundred day moving average of $313.12. The company has a market capitalization of $169.35 billion, a price-to-earnings ratio of 45.10, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period last year, the company earned $5.00 earnings per share. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.85%. Amgen’s dividend payout ratio is currently 128.57%.

About Amgen

(Free Report)

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.

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