Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Leavell Investment Management Inc.

by · The Markets Daily

Leavell Investment Management Inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 42.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,756 shares of the medical research company’s stock after buying an additional 5,325 shares during the quarter. Leavell Investment Management Inc.’s holdings in Amgen were worth $5,721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Amgen during the 3rd quarter valued at about $25,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at approximately $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at approximately $33,000. Finally, Matrix Trust Co purchased a new position in Amgen in the third quarter worth approximately $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 1.0 %

AMGN opened at $325.28 on Friday. The firm has a market cap of $174.85 billion, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 2.79 and a beta of 0.60. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The business’s 50 day moving average is $323.61 and its two-hundred day moving average is $317.08. 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 – 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, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during 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%. Amgen’s quarterly revenue 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. On average, research analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. TD Cowen lifted their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. Barclays lifted their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Bank of America raised their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $333.50.

Get Our Latest Stock Report on Amgen

About Amgen

(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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