Angeles Investment Advisors LLC Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Angeles Investment Advisors LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,197 shares of the medical research company’s stock after selling 135 shares during the period. Angeles Investment Advisors LLC’s holdings in Amgen were worth $708,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Keynote Financial Services LLC increased its position in shares of Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares in the last quarter. Ascent Group LLC boosted its stake in Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares during the last quarter. RFP Financial Group LLC boosted its stake in Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after buying an additional 32 shares during the last quarter. Hofer & Associates. Inc boosted its stake in Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after buying an additional 32 shares during the last quarter. Finally, Cadinha & Co. LLC boosted its stake in Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $5.86 during trading hours on Wednesday, reaching $304.70. The stock had a trading volume of 648,794 shares, compared to its average volume of 2,421,933. The firm has a market cap of $163.79 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.87 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The firm has a 50-day moving average of $322.74 and a 200-day moving average of $318.27.

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

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 2.95%. Amgen’s payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

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.