Amgen Inc. (NASDAQ:AMGN) Position Lifted by Nepsis Inc.

Nepsis Inc. lifted its position in Amgen Inc. (NASDAQ:AMGN) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,715 shares of the medical research company’s stock after purchasing an additional 3,735 shares during the quarter. Amgen comprises about 4.6% of Nepsis Inc.’s holdings, making the stock its 7th biggest holding. Nepsis Inc.’s holdings in Amgen were worth $19,241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the second quarter worth $30,000. nVerses Capital LLC purchased a new position in shares of Amgen during the second quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen in the second quarter valued at $33,000. Finally, Matrix Trust Co acquired a new stake in shares of Amgen in the third quarter valued at $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Up 0.1 %

NASDAQ AMGN traded up $0.33 during trading hours on Friday, hitting $321.66. The company had a trading volume of 1,552,126 shares, compared to its average volume of 2,447,665. The firm’s 50 day moving average is $326.07 and its 200 day moving average is $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. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a market capitalization of $172.55 billion, a price-to-earnings ratio of 45.95, a P/E/G ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its 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 company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.00 EPS. Sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on AMGN. Barclays raised their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and raised their price objective for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Morgan Stanley cut their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Oppenheimer reiterated an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Finally, Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $329.48.

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.