Meridian Wealth Management LLC Invests $5.11 Million in Amgen Inc. (NASDAQ:AMGN)

by · The Cerbat Gem

Meridian Wealth Management LLC bought a new position in Amgen Inc. (NASDAQ:AMGN – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 15,846 shares of the medical research company’s stock, valued at approximately $5,106,000.

Several other institutional investors have also recently made changes to their positions in the company. Icon Wealth Advisors LLC lifted its holdings in Amgen by 3,955.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock valued at $56,000 after buying an additional 169,748 shares in the last quarter. Biltmore Family Office LLC grew its position in shares of Amgen by 4.6% in the 3rd quarter. Biltmore Family Office LLC now owns 3,024 shares of the medical research company’s stock worth $974,000 after buying an additional 133 shares during the last quarter. CFS Investment Advisory Services LLC purchased a new position in shares of Amgen in the 3rd quarter worth approximately $2,835,000. Raymond James Trust N.A. grew its position in shares of Amgen by 28.8% in the 3rd quarter. Raymond James Trust N.A. now owns 84,519 shares of the medical research company’s stock worth $27,233,000 after buying an additional 18,921 shares during the last quarter. Finally, AlphaCore Capital LLC grew its position in shares of Amgen by 13.3% in the 3rd quarter. AlphaCore Capital LLC now owns 4,006 shares of the medical research company’s stock worth $1,291,000 after buying an additional 470 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Amgen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $335.00 price objective on the stock. TD Cowen boosted their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Oppenheimer reissued an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. Finally, Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $333.57.

Read Our Latest Research Report on Amgen

Amgen Trading Up 0.7 %

Amgen stock opened at $289.90 on Friday. The stock has a market cap of $155.83 billion, a PE ratio of 37.10, a P/E/G ratio of 2.50 and a beta of 0.60. The stock has a 50-day moving average price of $317.28 and a 200 day moving average price of $318.02. Amgen Inc. has a 52 week low of $260.68 and a 52 week high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.96 EPS. Equities research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Amgen Profile

(Free Report)

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.

See Also

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