Lake Street Private Wealth LLC Acquires 171 Shares of Amgen Inc. (NASDAQ:AMGN)

Lake Street Private Wealth LLC increased its holdings 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 firm owned 1,861 shares of the medical research company’s stock after acquiring an additional 171 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Amgen were worth $600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sovereign Financial Group Inc. increased its stake in shares of Amgen by 11.0% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,451 shares of the medical research company’s stock worth $413,000 after purchasing an additional 144 shares during the last quarter. GoalVest Advisory LLC increased its position in Amgen by 215.9% in the first quarter. GoalVest Advisory LLC now owns 537 shares of the medical research company’s stock worth $153,000 after buying an additional 367 shares during the last quarter. Key Client Fiduciary Advisors LLC raised its stake in shares of Amgen by 18.0% in 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 buying an additional 173 shares during the period. Wealthcare Advisory Partners LLC lifted its position in shares of Amgen by 10.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 12,744 shares of the medical research company’s stock valued at $3,623,000 after buying an additional 1,198 shares during the last quarter. Finally, Thrive Wealth Management LLC grew its stake in shares of Amgen by 18.7% during the 1st quarter. Thrive Wealth Management LLC now owns 2,772 shares of the medical research company’s stock worth $788,000 after acquiring an additional 436 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $314.90 on Thursday. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm has a market capitalization of $168.92 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 2.86 and a beta of 0.61. The company’s fifty day moving average price is $325.77 and its 200-day moving average price is $313.12.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results 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). 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 analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the business earned $5.00 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, equities research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.86%. Amgen’s payout ratio is 128.57%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Barclays boosted their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. TD Cowen raised their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird reissued an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $332.55.

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.