SteelPeak Wealth LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

SteelPeak Wealth LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGNFree Report) by 240.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 104,572 shares of the medical research company’s stock after purchasing an additional 73,826 shares during the period. Amgen accounts for 1.5% of SteelPeak Wealth LLC’s investment portfolio, making the stock its 16th largest position. SteelPeak Wealth LLC’s holdings in Amgen were worth $33,694,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

AMGN has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Morgan Stanley lowered their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $332.55.

Get Our Latest Stock Report on Amgen

Amgen Trading Up 0.1 %

Shares of NASDAQ:AMGN traded up $0.28 on Wednesday, hitting $316.28. The company had a trading volume of 605,507 shares, compared to its average volume of 2,411,795. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm’s 50-day simple moving average is $325.02 and its two-hundred day simple moving average is $314.78. The firm has a market capitalization of $169.66 billion, a price-to-earnings ratio of 45.14, a P/E/G ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGNGet Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the previous year, the firm posted $5.00 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. Equities analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.85%. Amgen’s payout ratio is 128.57%.

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.

Further Reading

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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