Insight Wealth Strategies LLC Purchases 346 Shares of Amgen Inc. (NASDAQ:AMGN)

Insight Wealth Strategies LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,733 shares of the medical research company’s stock after acquiring an additional 346 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Amgen were worth $4,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AMGN. Strategic Financial Concepts LLC acquired a new stake in Amgen during the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen during the 2nd quarter worth approximately $30,000. nVerses Capital LLC acquired a new stake in Amgen during the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen during the 2nd quarter worth approximately $33,000. Finally, FSA Wealth Management LLC raised 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 worth $40,000 after buying an additional 91 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Amgen in a report on Friday, September 27th. They set an “overweight” rating and a $405.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Argus lifted their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $326.30.

Amgen Price Performance

AMGN traded up $1.16 on Tuesday, hitting $318.61. 59,338 shares of the stock were exchanged, compared to its average volume of 2,476,095. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The business has a 50-day moving average of $327.28 and a two-hundred day moving average of $309.48. 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 $170.91 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 2.98 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company posted $5.00 EPS. Sell-side analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Amgen Company 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.