Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Sheets Smith Wealth Management

Sheets Smith Wealth Management raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 29.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,692 shares of the medical research company’s stock after buying an additional 4,745 shares during the quarter. Sheets Smith Wealth Management’s holdings in Amgen were worth $6,667,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AMGN. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the third quarter valued at $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen during the 2nd quarter worth about $26,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the second quarter worth about $30,000. nVerses Capital LLC acquired a new position in shares of Amgen in the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMGN. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Barclays lifted their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company lowered shares of 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 report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Stock Up 1.0 %

Shares of Amgen stock opened at $325.28 on Friday. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The company has a market capitalization of $174.85 billion, a PE ratio of 41.65, a P/E/G ratio of 2.87 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 business has a 50-day moving average of $323.61 and a 200-day moving average of $317.08.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 2.77%. Amgen’s dividend payout ratio is presently 115.24%.

About Amgen

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.