Malaga Cove Capital LLC Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Malaga Cove Capital LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,078 shares of the medical research company’s stock after selling 85 shares during the period. Amgen accounts for about 2.0% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 7th biggest holding. Malaga Cove Capital LLC’s holdings in Amgen were worth $4,858,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Strategic Financial Concepts LLC bought a new stake in shares of Amgen during the 2nd quarter worth $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the second quarter valued at about $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen in the second quarter valued at about $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen in the second quarter worth about $33,000. Finally, Matrix Trust Co acquired a new position in shares of Amgen during the 3rd quarter worth about $36,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMGN shares. Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Sanford C. Bernstein began coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Oppenheimer reiterated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Trading Up 0.8 %

AMGN stock opened at $321.79 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The company has a market cap of $172.91 billion, a P/E ratio of 41.20, a PEG ratio of 2.81 and a beta of 0.60. The business has a fifty day moving average of $323.96 and a 200-day moving average of $316.68.

Amgen (NASDAQ:AMGN) last released 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. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the company posted $4.96 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) 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.