BNC Wealth Management LLC Invests $4.10 Million in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

BNC Wealth Management LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,732 shares of the medical research company’s stock, valued at approximately $4,103,000. Amgen accounts for 1.5% of BNC Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position.

A number of other large investors have also modified their holdings of the company. Advisory Services Network LLC raised its position in Amgen by 33.9% in the first quarter. Advisory Services Network LLC now owns 27,390 shares of the medical research company’s stock worth $7,788,000 after purchasing an additional 6,935 shares in the last quarter. Gallacher Capital Management LLC lifted its position in shares of Amgen by 5.7% during the 1st quarter. Gallacher Capital Management LLC now owns 1,006 shares of the medical research company’s stock worth $286,000 after buying an additional 54 shares during the period. CFO4Life Group LLC lifted its position in shares of Amgen by 4.0% during the 1st quarter. CFO4Life Group LLC now owns 2,169 shares of the medical research company’s stock worth $617,000 after buying an additional 84 shares during the period. Empirical Finance LLC boosted its stake in Amgen by 3.4% in the 1st quarter. Empirical Finance LLC now owns 19,773 shares of the medical research company’s stock valued at $5,622,000 after buying an additional 649 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in Amgen by 5.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 64,427 shares of the medical research company’s stock valued at $18,318,000 after acquiring an additional 3,246 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of analyst reports. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. TD Cowen upped their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays lifted their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley decreased their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $333.50.

View Our Latest Report on AMGN

Amgen Trading Up 0.8 %

AMGN opened at $321.79 on Thursday. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a market cap of $172.91 billion, a price-to-earnings ratio of 41.20, a price-to-earnings-growth ratio of 2.81 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $323.96 and a 200 day simple moving average of $316.68.

Amgen (NASDAQ:AMGN – Get Free Report) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

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 issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

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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