Trek Financial LLC Purchases 1,885 Shares of Amgen Inc. $AMGN

Trek Financial LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 26.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,890 shares of the medical research company’s stock after purchasing an additional 1,885 shares during the period. Trek Financial LLC’s holdings in Amgen were worth $3,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. State Street Corp grew its holdings in Amgen by 38.2% during the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after purchasing an additional 11,656,755 shares in the last quarter. Bank of America Corp DE purchased a new stake in Amgen during the 2nd quarter worth $1,831,903,000. Wellington Management Group LLP lifted its holdings in Amgen by 1,102.7% in the 2nd quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock worth $993,031,000 after buying an additional 2,514,254 shares in the last quarter. BlackRock Inc. lifted its holdings in Amgen by 4.8% in the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after buying an additional 2,261,544 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Amgen by 702.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,535,257 shares of the medical research company’s stock worth $647,126,000 after buying an additional 1,344,010 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 0.1%

Shares of NASDAQ:AMGN opened at $465.45 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The company has a fifty day simple moving average of $420.49 and a 200 day simple moving average of $375.49. The firm has a market cap of $251.64 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 3.31 and a beta of 0.41. Amgen Inc. has a 12-month low of $292.12 and a 12-month high of $475.64.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. During the same period in the prior year, the company posted $6.02 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities research analysts anticipate that Amgen Inc. will post 22.96 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, November 20th. Amgen’s dividend payout ratio (DPR) is currently 62.65%.

Analyst Ratings Changes

A number of research firms have weighed in on AMGN. Royal Bank Of Canada upped their price objective on shares of Amgen from $400.00 to $430.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. Canaccord Genuity Group lifted their target price on Amgen from $366.00 to $384.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Citigroup boosted their price target on Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Robert W. Baird boosted their price target on Amgen from $215.00 to $230.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 5th. Finally, Scotiabank increased their price target on Amgen from $450.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $389.71.

Insider Activity

In other news, SVP Rachna Khosla sold 1,252 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the sale, the senior vice president owned 6,404 shares of the company’s stock, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy Grygiel sold 2,970 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,222 shares of company stock valued at $2,540,926 in the last three months. Insiders own 0.85% of the company’s stock.

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.