Marcum Wealth LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Marcum Wealth LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,452 shares of the medical research company’s stock after acquiring an additional 64 shares during the period. Marcum Wealth LLC’s holdings in Amgen were worth $1,434,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen in the second quarter valued at $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the 2nd quarter valued at about $30,000. nVerses Capital LLC acquired a new position in Amgen in the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the second quarter valued at approximately $33,000. Finally, FSA Wealth Management LLC boosted its position in Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 1.5 %

NASDAQ:AMGN opened at $322.41 on Thursday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company 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. The stock’s 50 day moving average price is $326.66 and its 200 day moving average price is $310.06. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last announced 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). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.00 EPS. On average, research analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.79%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMGN shares. TD Cowen lifted their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price objective 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 issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $326.30.

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.