Birchcreek Wealth Management LLC Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

by · The Cerbat Gem

Birchcreek Wealth Management LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 6.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 899 shares of the medical research company’s stock after purchasing an additional 57 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Amgen were worth $290,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new position in shares of Amgen during the third quarter valued at about $25,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the 2nd quarter worth approximately $30,000. nVerses Capital LLC acquired a new position in Amgen in the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen in the 2nd quarter worth approximately $33,000. Finally, Matrix Trust Co acquired a new position in Amgen in the 3rd quarter worth approximately $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN traded down $11.35 during mid-day trading on Friday, reaching $284.58. The company had a trading volume of 533,594 shares, compared to its average volume of 2,431,674. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market cap of $152.97 billion, a PE ratio of 36.44, a P/E/G ratio of 2.69 and a beta of 0.60. The company has a 50-day moving average price of $321.59 and a two-hundred day moving average price of $318.00. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN – Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 earnings per share. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The firm 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. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.16%. Amgen’s dividend payout ratio is presently 115.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and upped their price objective for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $333.57.

Check Out Our Latest Stock Analysis on AMGN

Amgen Profile

(Free Report)

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.

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