Atomi Financial Group Inc. Purchases 217 Shares of Amgen Inc. (NASDAQ:AMGN)

Atomi Financial Group Inc. boosted its position in Amgen Inc. (NASDAQ:AMGN) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,388 shares of the medical research company’s stock after purchasing an additional 217 shares during the quarter. Atomi Financial Group Inc.’s holdings in Amgen were worth $1,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strategic Financial Concepts LLC acquired a new position in shares of Amgen during the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen in the second quarter valued at about $33,000. Finally, FSA Wealth Management LLC lifted its position in Amgen by 182.0% during the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AMGN. Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Barclays upped their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday. Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Cantor Fitzgerald initiated coverage on Amgen in a research note on Friday, September 27th. They issued an “overweight” rating and a $405.00 price objective on the stock. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.30.

Amgen Price Performance

Shares of AMGN opened at $317.68 on Wednesday. The business has a 50-day moving average of $326.97 and a 200-day moving average of $309.76. 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 company has a market capitalization of $170.41 billion, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the firm posted $5.00 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders 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 yield of 2.83%. Amgen’s payout ratio is currently 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.