IHT Wealth Management LLC Acquires 1,210 Shares of Amgen Inc. (NASDAQ:AMGN)

IHT Wealth Management LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 10.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,765 shares of the medical research company’s stock after acquiring an additional 1,210 shares during the period. IHT Wealth Management LLC’s holdings in Amgen were worth $4,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Meyer Handelman Co. grew its holdings in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after acquiring an additional 8,700 shares during the period. First Horizon Advisors Inc. boosted its position 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 worth $19,581,000 after purchasing an additional 1,872 shares during the last quarter. Napa Wealth Management bought a new stake in shares of Amgen during the 3rd quarter valued at about $1,104,000. Swiss National Bank increased its position in shares of Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its stake 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 during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. Truist Financial lowered 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 research report on Monday, October 14th. UBS Group cut their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Redburn Partners cut their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $323.05.

Amgen Stock Performance

NASDAQ:AMGN opened at $278.32 on Wednesday. The company has a market cap of $149.61 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 3.08 and a beta of 0.55. Amgen Inc. has a 1 year low of $257.80 and a 1 year high of $346.85. The stock’s 50 day simple moving average is $309.17 and its two-hundred day simple moving average is $316.66. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The company 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%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.96 earnings per share. As a group, equities analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued 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%.

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.