Crestwood Advisors Group LLC Buys 55 Shares of Amgen Inc. (NASDAQ:AMGN)

Crestwood Advisors Group LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,515 shares of the medical research company’s stock after acquiring an additional 55 shares during the period. Crestwood Advisors Group LLC’s holdings in Amgen were worth $3,388,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AMGN. Strategic Financial Concepts LLC bought a new stake in Amgen in the second quarter valued at $26,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter valued at $30,000. nVerses Capital LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the 2nd quarter worth about $33,000. Finally, Matrix Trust Co purchased a new stake in shares of Amgen in the 3rd quarter worth about $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN opened at $319.29 on Wednesday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a market capitalization of $171.56 billion, a P/E ratio of 40.88, a P/E/G ratio of 2.81 and a beta of 0.60. The company’s 50-day simple moving average is $324.12 and its two-hundred day simple moving average is $316.64. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 EPS. As a group, analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AMGN shares. Barclays upped their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Morgan Stanley reduced 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 report on Thursday, July 11th. TD Cowen upped their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

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.