Amgen Inc. (NASDAQ:AMGN) Shares Bought by Belmont Capital LLC

Belmont Capital LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 88.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,139 shares of the medical research company’s stock after acquiring an additional 533 shares during the period. Belmont Capital LLC’s holdings in Amgen were worth $367,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new stake in shares of Amgen during the third quarter worth about $25,000. Hershey Financial Advisers LLC purchased a new stake in Amgen in the 2nd quarter worth approximately $30,000. nVerses Capital LLC acquired a new position in Amgen in the 2nd quarter valued at $31,000. Bbjs Financial Advisors LLC purchased a new position in shares of Amgen during the 2nd quarter worth $33,000. Finally, Matrix Trust Co acquired a new stake in shares of Amgen during the third quarter worth $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $278.76 on Tuesday. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a market capitalization of $149.84 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. The firm’s fifty day moving average price is $319.90 and its 200 day moving average price is $318.65.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the firm earned $4.96 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. On average, research analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research note on Thursday, September 26th. TD Cowen increased their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $320.00 to $333.00 in a report on Monday, October 14th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Finally, Citigroup began coverage on shares of Amgen in a report on Thursday, November 14th. They issued a “neutral” rating and a $335.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $333.57.

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.