Benjamin Edwards Inc. Has $16.34 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Benjamin Edwards Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 682.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,663 shares of the medical research company’s stock after acquiring an additional 44,184 shares during the period. Benjamin Edwards Inc.’s holdings in Amgen were worth $16,340,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Meyer Handelman Co. increased its stake in shares of Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares in the last quarter. Napa Wealth Management acquired a new position in shares of Amgen during the third quarter valued at about $1,104,000. Swiss National Bank raised its stake in Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after buying an additional 5,500 shares during the period. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Amgen by 40.1% in the 3rd quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock worth $2,433,000 after purchasing an additional 2,163 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Sanford C. Bernstein assumed coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Citigroup dropped their price objective on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. TD Cowen lifted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $323.05.

Amgen Stock Performance

Amgen stock opened at $278.10 on Tuesday. The stock has a market cap of $149.49 billion, a P/E ratio of 35.61, a price-to-earnings-growth ratio of 2.52 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a fifty-two week low of $257.80 and a fifty-two week high of $346.85. The firm’s fifty day moving average price is $311.37 and its 200-day moving average price is $317.16.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.24%. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Amgen Company 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.