Oak Harbor Wealth Partners LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Oak Harbor Wealth Partners LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 9.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,493 shares of the medical research company’s stock after buying an additional 124 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Amgen were worth $481,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Amgen in the third quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen in the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC purchased a new position in Amgen in the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Amgen in the second quarter valued at approximately $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Citigroup assumed coverage on Amgen in a report on Thursday. They issued a “neutral” rating and a $335.00 price objective for the company. Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective for the company. TD Cowen increased their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Trading Down 1.8 %

Shares of AMGN stock opened at $295.93 on Friday. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The stock has a market cap of $159.07 billion, a P/E ratio of 37.89, a P/E/G ratio of 2.67 and a beta of 0.60. The business has a fifty day simple moving average of $322.15 and a 200-day simple moving average of $318.15. 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 announced its quarterly earnings results 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 business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the business posted $4.96 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Monday, November 18th. 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.