Elevated Capital Advisors LLC Grows Stake in Amgen Inc. (NASDAQ:AMGN)

Elevated Capital Advisors LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,539 shares of the medical research company’s stock after purchasing an additional 38 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Amgen were worth $496,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sovereign Financial Group Inc. grew its stake in shares of Amgen by 11.0% during the first quarter. Sovereign Financial Group Inc. now owns 1,451 shares of the medical research company’s stock valued at $413,000 after acquiring an additional 144 shares in the last quarter. GoalVest Advisory LLC grew its stake in shares of Amgen by 215.9% during the first quarter. GoalVest Advisory LLC now owns 537 shares of the medical research company’s stock valued at $153,000 after acquiring an additional 367 shares in the last quarter. Key Client Fiduciary Advisors LLC grew its stake in shares of Amgen by 18.0% during the first quarter. Key Client Fiduciary Advisors LLC now owns 1,134 shares of the medical research company’s stock valued at $323,000 after acquiring an additional 173 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of Amgen by 10.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 12,744 shares of the medical research company’s stock valued at $3,623,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Thrive Wealth Management LLC grew its stake in shares of Amgen by 18.7% during the first quarter. Thrive Wealth Management LLC now owns 2,772 shares of the medical research company’s stock valued at $788,000 after acquiring an additional 436 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMGN. Sanford C. Bernstein began coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. TD Cowen lifted their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday. Barclays lifted their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley decreased their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have given 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.com, Amgen currently has an average rating of “Moderate Buy” and an average price target of $332.55.

Amgen Stock Performance

AMGN opened at $314.90 on Thursday. The business’s 50 day moving average is $325.77 and its 200-day moving average is $313.12. The stock has a market cap of $168.92 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. 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 earned $5.00 EPS. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.86%. Amgen’s payout ratio is 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.