Cerity Partners LLC Has $127.36 Million Position in Amgen Inc. (NASDAQ:AMGN)

Cerity Partners LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 14.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 395,273 shares of the medical research company’s stock after purchasing an additional 50,034 shares during the quarter. Cerity Partners LLC’s holdings in Amgen were worth $127,361,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Amgen during the 3rd quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Amgen during the 2nd quarter worth about $26,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen in the 2nd quarter valued at about $30,000. nVerses Capital LLC acquired a new stake in Amgen in the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen during the second quarter worth approximately $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN opened at $294.53 on Friday. Amgen Inc. has a 1 year low of $260.68 and a 1 year 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 $158.32 billion, a price-to-earnings ratio of 37.71, a P/E/G ratio of 2.59 and a beta of 0.60. The firm’s fifty day moving average price is $316.52 and its two-hundred day moving average price is $317.98.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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 firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $4.96 EPS. As a group, analysts anticipate that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.06%. Amgen’s payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent analyst reports. Sanford C. Bernstein assumed coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective for the company. Bank of America raised their price objective 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 set a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Finally, Barclays boosted their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.