Fairfield Financial Advisors LTD Raises Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Fairfield Financial Advisors LTD grew its stake in Amgen Inc. (NASDAQ:AMGN) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,284 shares of the medical research company’s stock after acquiring an additional 193 shares during the quarter. Amgen accounts for 0.9% of Fairfield Financial Advisors LTD’s portfolio, making the stock its 22nd biggest holding. Fairfield Financial Advisors LTD’s holdings in Amgen were worth $2,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the second quarter valued at $30,000. nVerses Capital LLC purchased a new position in Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen in the second quarter worth about $33,000. Matrix Trust Co bought a new position in shares of Amgen in the third quarter worth about $36,000. Finally, FSA Wealth Management LLC raised its stake in shares of Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after buying an additional 91 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. TD Cowen raised their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 target price on shares of Amgen in a research note on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Barclays lifted their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $332.55.

Amgen Stock Up 2.0 %

NASDAQ AMGN traded up $6.26 on Thursday, reaching $321.80. 770,824 shares of the stock traded hands, compared to its average volume of 2,411,686. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company has a fifty day moving average price of $324.75 and a 200-day moving average price of $314.78. The company has a market cap of $172.62 billion, a price-to-earnings ratio of 45.08, a PEG 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.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.96 EPS. As a group, research analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

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

Amgen Company Profile

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.