Traveka Wealth LLC Increases Stake in Amgen Inc. (NASDAQ:AMGN)

Traveka Wealth LLC raised its position in Amgen Inc. (NASDAQ:AMGN) by 4.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 807 shares of the medical research company’s stock after purchasing an additional 33 shares during the period. Traveka Wealth LLC’s holdings in Amgen were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC lifted its holdings in Amgen by 2.8% in the 3rd quarter. Insight Wealth Strategies LLC now owns 12,733 shares of the medical research company’s stock valued at $4,103,000 after purchasing an additional 346 shares in the last quarter. Legacy Private Trust Co. lifted its holdings in Amgen by 1.8% in the 3rd quarter. Legacy Private Trust Co. now owns 6,932 shares of the medical research company’s stock valued at $2,234,000 after purchasing an additional 122 shares in the last quarter. Advance Capital Management Inc. increased its stake in shares of Amgen by 0.8% in the 3rd quarter. Advance Capital Management Inc. now owns 6,359 shares of the medical research company’s stock worth $2,049,000 after acquiring an additional 49 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Amgen by 4.1% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 22,243 shares of the medical research company’s stock worth $7,167,000 after acquiring an additional 876 shares during the last quarter. Finally, Axiom Advisory LLC increased its stake in shares of Amgen by 3.2% in the 3rd quarter. Axiom Advisory LLC now owns 7,296 shares of the medical research company’s stock worth $2,389,000 after acquiring an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent research reports. Morgan Stanley cut their target price 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. TD Cowen raised their price objective on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Barclays raised their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday. Argus raised their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Robert W. Baird reissued an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.30.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $0.80 during trading on Tuesday, reaching $318.25. The company had a trading volume of 253,358 shares, compared to its average volume of 2,477,095. The firm has a market capitalization of $170.72 billion, a price-to-earnings ratio of 45.37, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. 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 stock’s fifty day moving average price is $326.97 and its 200 day moving average price is $309.76. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (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 analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.00 EPS. As a group, equities research analysts predict that Amgen Inc. will post 19.49 EPS for the current 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 issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio 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.