Taylor Hoffman Wealth Management Has $366,000 Stake in Amgen, Inc. (NASDAQ:AMGN)

Taylor Hoffman Wealth Management raised its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 21.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,890 shares of the medical research company’s stock after purchasing an additional 334 shares during the period. Taylor Hoffman Wealth Management’s holdings in Amgen were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMGN. Nuveen Asset Management LLC boosted its stake in Amgen by 1,334.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock valued at $910,860,000 after purchasing an additional 4,598,329 shares during the last quarter. Thoroughbred Financial Services LLC boosted its stake in Amgen by 19,447.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock valued at $180,539,000 after purchasing an additional 1,796,156 shares during the last quarter. BlackRock Inc. boosted its stake in Amgen by 3.4% during the 2nd quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock valued at $8,793,346,000 after purchasing an additional 1,585,911 shares during the last quarter. Ruffer LLP purchased a new position in shares of Amgen in the 2nd quarter worth approximately $192,788,000. Finally, Railway Pension Investments Ltd boosted its stake in shares of Amgen by 158.2% in the 3rd quarter. Railway Pension Investments Ltd now owns 651,796 shares of the medical research company’s stock worth $126,129,000 after buying an additional 399,317 shares during the last quarter. Institutional investors and hedge funds own 76.33% of the company’s stock.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $206.70, for a total transaction of $413,400.00. Following the completion of the sale, the director now directly owns 16,336 shares in the company, valued at $3,376,651.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Cynthia M. Patton sold 13,426 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $208.07, for a total transaction of $2,793,547.82. Following the sale, the senior vice president now owns 32,648 shares of the company’s stock, valued at $6,793,069.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,851 shares of company stock valued at $3,685,674. Company insiders own 0.25% of the company’s stock.

A number of equities analysts have recently weighed in on AMGN shares. Royal Bank of Canada restated a “hold” rating on shares of Amgen in a research note on Monday, September 30th. BMO Capital Markets set a $240.00 target price on Amgen and gave the stock a “buy” rating in a research note on Monday, September 30th. Leerink Swann boosted their target price on Amgen from $189.00 to $205.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Wells Fargo & Co restated a “market perform” rating and issued a $220.00 target price (up previously from $202.00) on shares of Amgen in a research note on Tuesday, August 27th. They noted that the move was a valuation call. Finally, Cowen set a $231.00 target price on Amgen and gave the stock a “buy” rating in a research note on Sunday, September 29th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $219.56.

Shares of NASDAQ:AMGN traded up $3.12 during mid-day trading on Friday, reaching $221.11. The company had a trading volume of 2,069,900 shares, compared to its average volume of 2,911,719. Amgen, Inc. has a one year low of $166.30 and a one year high of $221.25. The company’s 50-day moving average price is $202.75 and its 200-day moving average price is $188.90. The firm has a market cap of $127.80 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 2.21 and a beta of 1.09. The company has a current ratio of 2.89, a quick ratio of 2.59 and a debt-to-equity ratio of 2.54.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.53 by $0.13. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same period in the prior year, the business posted $3.69 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. On average, research analysts anticipate that Amgen, Inc. will post 14.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $1.45 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $5.80 annualized dividend and a yield of 2.62%. Amgen’s payout ratio is 40.28%.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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