Dearborn Partners LLC Has $1.15 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Dearborn Partners LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 5.9% during the third quarter, Holdings Channel reports. The firm owned 3,578 shares of the medical research company’s stock after purchasing an additional 199 shares during the period. Dearborn Partners LLC’s holdings in Amgen were worth $1,153,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. M&G Plc bought a new stake in Amgen during the first quarter valued at $7,633,000. Pinkerton Retirement Specialists LLC lifted its position in shares of Amgen by 30.1% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 12,708 shares of the medical research company’s stock worth $3,613,000 after purchasing an additional 2,943 shares during the period. Councilmark Asset Management LLC bought a new position in shares of Amgen in the 1st quarter worth approximately $2,891,000. Intech Investment Management LLC increased its stake in shares of Amgen by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 35,673 shares of the medical research company’s stock worth $10,143,000 after acquiring an additional 5,668 shares in the last quarter. Finally, Spirepoint Private Client LLC bought a new stake in Amgen in the first quarter worth $1,110,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 1.8 %

Shares of Amgen stock opened at $295.93 on Friday. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The company has a market capitalization of $159.07 billion, a P/E ratio of 37.89, a PEG ratio of 2.69 and a beta of 0.60. The business’s fifty day moving average price is $322.15 and its two-hundred day moving average price is $318.15. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The business 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 in the previous year, the business posted $4.96 EPS. As a group, research analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.04%. Amgen’s payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMGN. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday. Bank of America raised their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Wolfe Research initiated coverage on Amgen in a research report on Friday. They set a “peer perform” rating for the company. Oppenheimer restated an “outperform” rating and set a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Finally, TD Cowen raised their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $333.57.

About Amgen

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.