Fairfield Financial Advisors LTD Acquires 193 Shares of Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Fairfield Financial Advisors LTD grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,284 shares of the medical research company’s stock after buying an additional 193 shares during the period. Amgen makes up 0.9% of Fairfield Financial Advisors LTD’s investment portfolio, making the stock its 22nd largest holding. Fairfield Financial Advisors LTD’s holdings in Amgen were worth $2,669,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kovack Advisors Inc. lifted its holdings in shares of Amgen by 23.8% in the 1st quarter. Kovack Advisors Inc. now owns 3,694 shares of the medical research company’s stock worth $1,050,000 after purchasing an additional 711 shares in the last quarter. Veracity Capital LLC lifted its holdings in shares of Amgen by 8.2% in the 1st quarter. Veracity Capital LLC now owns 1,614 shares of the medical research company’s stock worth $459,000 after purchasing an additional 123 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Amgen by 2.0% in the 1st quarter. J.W. Cole Advisors Inc. now owns 9,616 shares of the medical research company’s stock worth $2,726,000 after purchasing an additional 188 shares in the last quarter. Private Advisor Group LLC lifted its stake in Amgen by 4.1% during the 1st quarter. Private Advisor Group LLC now owns 51,429 shares of the medical research company’s stock valued at $14,622,000 after acquiring an additional 2,010 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC lifted its stake in Amgen by 2.3% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 17,252 shares of the medical research company’s stock valued at $4,905,000 after acquiring an additional 387 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of AMGN traded up $6.26 during trading hours on Thursday, reaching $321.80. 770,824 shares of the company’s stock traded hands, compared to its average volume of 2,411,686. The firm’s 50 day simple moving average is $324.75 and its 200-day simple moving average is $314.78. The stock has a market cap of $172.62 billion, a PE ratio of 45.08, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.96 EPS. Equities analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analysts Set New Price Targets

Several brokerages have weighed in on AMGN. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $332.55.

Read Our Latest Analysis on AMGN

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.

Further Reading

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