Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Schmidt P J Investment Management Inc.

by · The Markets Daily

Schmidt P J Investment Management Inc. raised its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,876 shares of the medical research company’s stock after purchasing an additional 40 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Amgen were worth $927,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Nicholson Wealth Management Group LLC acquired a new stake in Amgen in the third quarter valued at approximately $1,226,000. Values First Advisors Inc. acquired a new stake in Amgen in the third quarter valued at approximately $100,000. Woodard & Co. Asset Management Group Inc. ADV grew its holdings in Amgen by 1.4% in the third quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 10,272 shares of the medical research company’s stock valued at $3,310,000 after purchasing an additional 138 shares during the period. DT Investment Partners LLC grew its holdings in Amgen by 7.1% in the third quarter. DT Investment Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $383,000 after purchasing an additional 79 shares during the period. Finally, Cambridge Advisors Inc. grew its holdings in Amgen by 0.5% in the third quarter. Cambridge Advisors Inc. now owns 25,387 shares of the medical research company’s stock valued at $8,180,000 after purchasing an additional 114 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and lifted their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

View Our Latest Report on Amgen

Amgen Price Performance

NASDAQ:AMGN opened at $315.69 on Friday. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $169.35 billion, a P/E ratio of 45.10, a P/E/G ratio of 2.86 and a beta of 0.61. The stock’s fifty day moving average is $325.77 and its two-hundred day moving average is $313.12.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.00 EPS. Equities analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced 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 was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.85%. Amgen’s payout ratio is 128.57%.

Amgen Company Profile

(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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