Winthrop Advisory Group LLC Purchases New Position in Amgen Inc. (NASDAQ:AMGN)

Winthrop Advisory Group LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 685 shares of the medical research company’s stock, valued at approximately $221,000.

Other large investors also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its stake 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 worth $18,318,000 after purchasing an additional 3,246 shares during the last quarter. AIA Group Ltd bought a new stake in shares of Amgen during the 1st quarter worth approximately $612,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Amgen by 33.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,498 shares of the medical research company’s stock valued at $2,132,000 after acquiring an additional 1,860 shares during the period. Nelson Capital Management LLC grew its position in Amgen by 18.4% in the 1st quarter. Nelson Capital Management LLC now owns 18,654 shares of the medical research company’s stock valued at $5,304,000 after acquiring an additional 2,901 shares during the last quarter. Finally, Capital Wealth Planning LLC increased its stake in Amgen by 28,684.1% in the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after purchasing an additional 830,405 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Morgan Stanley cut their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Stock Performance

AMGN opened at $321.91 on Friday. The firm’s 50-day moving average price is $323.96 and its 200-day moving average price is $316.68. The company has a market cap of $173.04 billion, a P/E ratio of 41.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.60. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $4.96 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 19.51 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 issued 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 115.24%.

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.