Lake Street Private Wealth LLC Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Lake Street Private Wealth LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 10.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,861 shares of the medical research company’s stock after buying an additional 171 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Amgen were worth $600,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AMGN. Hershey Financial Advisers LLC purchased a new stake in Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the second quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the second quarter worth about $33,000. Matrix Trust Co bought a new stake in shares of Amgen in the third quarter worth about $36,000. Finally, FSA Wealth Management LLC increased its holdings in Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMGN shares. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Morgan Stanley reduced their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Trading Down 1.5 %

Amgen stock opened at $314.90 on Thursday. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The business’s fifty day simple moving average is $325.77 and its two-hundred day simple moving average is $313.12. The company has a market capitalization of $168.92 billion, a price-to-earnings ratio of 44.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

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

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.86%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.