Morton Capital Management LLC CA Buys 121 Shares of Amgen Inc. (NASDAQ:AMGN)

Morton Capital Management LLC CA increased its position in Amgen Inc. (NASDAQ:AMGN) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,909 shares of the medical research company’s stock after purchasing an additional 121 shares during the period. Amgen makes up approximately 0.4% of Morton Capital Management LLC CA’s holdings, making the stock its 23rd biggest position. Morton Capital Management LLC CA’s holdings in Amgen were worth $1,904,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMGN. Strategic Financial Concepts LLC bought a new position in shares of Amgen during the second quarter valued at $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen in the 2nd quarter worth about $30,000. nVerses Capital LLC bought a new position in Amgen during the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at about $33,000. Finally, FSA Wealth Management LLC grew its stake in shares of Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after acquiring an additional 91 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

NASDAQ:AMGN opened at $322.41 on Thursday. The stock has a 50-day moving average price of $326.46 and a 200 day moving average price of $310.14. The stock has a market capitalization of $172.95 billion, a P/E ratio of 46.06, a P/E/G ratio of 2.98 and a beta of 0.61. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. 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 (NASDAQ:AMGN) last announced 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). The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.00 earnings per share. Equities research analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMGN. 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. TD Cowen raised their price target on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Morgan Stanley dropped their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.30.

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.