Angeles Wealth Management LLC Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Angeles Wealth Management LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 5.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 873 shares of the medical research company’s stock after buying an additional 45 shares during the quarter. Angeles Wealth Management LLC’s holdings in Amgen were worth $281,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Keynote Financial Services LLC boosted its stake 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 valued at $1,530,000 after acquiring an additional 30 shares during the last quarter. Ascent Group LLC boosted its stake in shares of Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares during the last quarter. RFP Financial Group LLC grew its holdings in shares of 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 in the last quarter. Hofer & Associates. Inc raised its position in shares of Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after buying an additional 32 shares during the last quarter. Finally, Cadinha & Co. LLC raised its position in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMGN. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. UBS Group dropped their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $333.50.

Amgen Stock Down 0.3 %

Shares of NASDAQ AMGN opened at $319.22 on Monday. The stock has a fifty day moving average price of $324.47 and a 200 day moving average price of $315.90. The company has a current ratio of 1.32, a quick ratio of 0.89 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company has a market cap of $171.53 billion, a P/E ratio of 40.87, a P/E/G ratio of 2.89 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted 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 business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.96 earnings per share. Research analysts anticipate that Amgen Inc. will post 19.45 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s payout ratio is currently 115.24%.

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.