Powers Advisory Group LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Powers Advisory Group LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,204 shares of the medical research company’s stock after purchasing an additional 51 shares during the period. Powers Advisory Group LLC’s holdings in Amgen were worth $388,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Security Financial Services INC. increased its position in Amgen by 5.1% during the 1st quarter. Security Financial Services INC. now owns 968 shares of the medical research company’s stock valued at $275,000 after buying an additional 47 shares in the last quarter. Northwest Investment Counselors LLC raised its position in shares of Amgen by 7.5% in the 1st quarter. Northwest Investment Counselors LLC now owns 3,603 shares of the medical research company’s stock worth $1,024,000 after purchasing an additional 250 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in Amgen by 6.4% in the 1st quarter. CHICAGO TRUST Co NA now owns 8,487 shares of the medical research company’s stock worth $2,413,000 after purchasing an additional 513 shares in the last quarter. AdvisorNet Financial Inc grew its position in Amgen by 5.7% during the 1st quarter. AdvisorNet Financial Inc now owns 2,206 shares of the medical research company’s stock valued at $627,000 after purchasing an additional 119 shares during the last quarter. Finally, Peak Financial Advisors LLC bought a new stake in Amgen during the 1st quarter valued at about $2,827,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN opened at $321.66 on Friday. The company has a 50 day simple moving average of $326.07 and a two-hundred day simple moving average of $312.15. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm has a market cap of $172.55 billion, a P/E ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.00 EPS. Equities analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMGN shares. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Finally, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $329.48.

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.