Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Alpha Paradigm Partners LLC

Posted by on Mar 15th, 2023

Alpha Paradigm Partners LLC raised its position in Amgen Inc. (NASDAQ:AMGN – Get Rating) by 184.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,800 shares of the medical research company’s stock after buying an additional 1,168 shares during the period. Alpha Paradigm Partners LLC’s holdings in Amgen were worth $406,000 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. Roundview Capital LLC lifted its position in shares of Amgen by 1.3% during the first quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock worth $2,027,000 after purchasing an additional 107 shares during the last quarter. Merit Financial Group LLC lifted its holdings in Amgen by 39.2% in the first quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock worth $555,000 after acquiring an additional 647 shares during the last quarter. Ergoteles LLC bought a new position in Amgen in the first quarter worth about $219,000. First Western Trust Bank bought a new position in Amgen in the first quarter worth about $334,000. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in Amgen by 2.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock worth $5,970,000 after acquiring an additional 513 shares during the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

NASDAQ:AMGN opened at $230.58 on Wednesday. The firm’s 50-day moving average is $248.05 and its 200-day moving average is $255.05. Amgen Inc. has a 52-week low of $223.30 and a 52-week high of $296.67. The company has a debt-to-equity ratio of 10.20, a quick ratio of 1.10 and a current ratio of 1.41. The company has a market cap of $123.13 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.84 and a beta of 0.65.

Amgen (NASDAQ:AMGN – Get Rating) last issued its earnings results on Tuesday, February 7th. The medical research company reported $4.09 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.05. Amgen had a net margin of 24.89% and a return on equity of 359.47%. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period in the previous year, the business earned $4.36 EPS. The firm’s revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that Amgen Inc. will post 17.72 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 18th will be paid a dividend of $2.13 per share. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Wednesday, May 17th. Amgen’s dividend payout ratio (DPR) is 70.36%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMGN shares. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 1st. Royal Bank of Canada lowered their price objective on shares of Amgen from $268.00 to $258.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 1st. Piper Sandler lowered their price objective on shares of Amgen from $299.00 to $293.00 and set an “overweight” rating on the stock in a research note on Thursday, January 19th. Oppenheimer lowered their price objective on shares of Amgen from $312.00 to $294.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 1st. Finally, Truist Financial decreased their price target on shares of Amgen from $280.00 to $260.00 and set a “buy” rating on the stock in a research report on Monday, February 13th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $251.44.

Amgen Company Profile

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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