Amgen Inc. (NASDAQ:AMGN) Shares Bought by EverSource Wealth Advisors LLC

Key Points

• EverSource Wealth Advisors LLC increased its stake in Amgen Inc. by 5.1%, holding a total of 30,547 shares valued at approximately $9.5 million as of the end of the most recent quarter.
• Amgen's latest earnings report revealed an EPS of $6.02, exceeding estimates, with revenue reaching $9.18 billion and a year-over-year growth of 9.4%.
• The company declared a quarterly dividend of $2.38 per share, reflecting an annualized dividend yield of 3.3% and a payout ratio of 77.84%.

EverSource Wealth Advisors LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,547 shares of the medical research company's stock after acquiring an additional 1,484 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Amgen were worth $9,517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Amgen by 26.3% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 3,518 shares of the medical research company's stock worth $917,000 after acquiring an additional 732 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Amgen in the fourth quarter worth $1,051,000. NewEdge Advisors LLC increased its position in shares of Amgen by 5.8% in the fourth quarter. NewEdge Advisors LLC now owns 69,099 shares of the medical research company's stock worth $18,010,000 after acquiring an additional 3,786 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC grew its stake in shares of Amgen by 10.6% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 822 shares of the medical research company's stock valued at $214,000 after buying an additional 79 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of AMGN opened at $290.29 on Friday. The firm has a market cap of $156.28 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 2.49 and a beta of 0.49. The stock has a 50 day moving average of $293.18 and a 200-day moving average of $292.85. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The business's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $4.97 EPS. As a group, analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen's dividend payout ratio (DPR) is 77.84%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMGN shares. Royal Bank Of Canada lowered their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Morgan Stanley increased their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Guggenheim assumed coverage on Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. Finally, UBS Group lowered their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has an average rating of "Hold" and a consensus price target of $303.76.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.76% of the company's stock.

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.

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