Angeles Investment Advisors LLC Has $729,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Angeles Investment Advisors LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 10.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,332 shares of the medical research company’s stock after selling 259 shares during the period. Angeles Investment Advisors LLC’s holdings in Amgen were worth $729,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new position in Amgen in the second quarter valued at about $26,000. Horizon Financial Services LLC acquired a new stake in Amgen in the first quarter valued at $28,000. United Community Bank bought a new position in Amgen during the 4th quarter worth $29,000. nVerses Capital LLC acquired a new position in Amgen during the 2nd quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $332.45 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $178.64 billion, a PE ratio of 47.49, a PEG ratio of 2.93 and a beta of 0.61. The stock’s 50 day moving average price is $328.18 and its 200-day moving average price is $304.00. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the company earned $5.00 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.71%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Royal Bank of Canada raised their price objective on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Argus upped their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $327.28.

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.