Harbour Investments Inc. Increases Position in Amgen Inc. (NASDAQ:AMGN)

Harbour Investments Inc. lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 9.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,588 shares of the medical research company’s stock after buying an additional 483 shares during the quarter. Harbour Investments Inc.’s holdings in Amgen were worth $1,801,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen in the third quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new stake in Amgen during the 2nd quarter valued at approximately $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen in the 2nd quarter worth approximately $30,000. nVerses Capital LLC bought a new position in Amgen in the 2nd quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.9 %

NASDAQ:AMGN opened at $301.44 on Thursday. The company has a market cap of $162.03 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 2.67 and a beta of 0.60. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a fifty day simple moving average of $322.74 and a 200-day simple moving average of $318.27.

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

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday. One equities 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen 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.