Schrum Private Wealth Management LLC Grows Stake in Amgen Inc. (NASDAQ:AMGN)

Schrum Private Wealth Management LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 41.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,260 shares of the medical research company’s stock after buying an additional 370 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Amgen were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Keynote Financial Services LLC lifted its position in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after acquiring an additional 30 shares in the last quarter. Ascent Group LLC boosted its stake in Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares during the last quarter. RFP Financial Group LLC lifted its stake in shares of Amgen by 17.1% in the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after buying an additional 32 shares in the last quarter. Hofer & Associates. Inc grew its stake in Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after acquiring an additional 32 shares in the last quarter. Finally, Cadinha & Co. LLC raised its holdings in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.1 %

AMGN traded up $3.30 during mid-day trading on Wednesday, hitting $302.14. 1,185,864 shares of the stock were exchanged, compared to its average volume of 2,424,374. The firm’s fifty day moving average is $322.74 and its two-hundred day moving average is $318.27. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The company has a market cap of $162.41 billion, a PE ratio of 38.26, a PEG ratio of 2.87 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 earnings per share. Equities analysts forecast that Amgen Inc. will post 19.51 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. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.98%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and boosted their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday. Robert W. Baird reissued an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen 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.