Angeles Investment Advisors LLC Invests $656,000 in Amgen Inc. (NASDAQ:AMGN)

Angeles Investment Advisors LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGNFree Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,442 shares of the medical research company’s stock, valued at approximately $656,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. Claro Advisors LLC grew its holdings in shares of Amgen by 6.9% during the second quarter. Claro Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $415,000 after buying an additional 120 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Amgen by 3.8% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,012 shares of the medical research company’s stock worth $2,445,000 after buying an additional 402 shares during the last quarter. Reuter James Wealth Management LLC grew its holdings in shares of Amgen by 48.0% during the second quarter. Reuter James Wealth Management LLC now owns 4,363 shares of the medical research company’s stock worth $969,000 after buying an additional 1,416 shares during the last quarter. Nicolet Advisory Services LLC grew its holdings in shares of Amgen by 4.4% during the third quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after buying an additional 117 shares during the last quarter. Finally, Fortune Financial Advisors LLC purchased a new position in shares of Amgen during the second quarter worth about $230,000. Institutional investors and hedge funds own 74.44% of the company’s stock.

Amgen Trading Down 1.3 %

Shares of AMGN stock traded down $3.73 on Friday, reaching $291.12. 3,341,055 shares of the stock were exchanged, compared to its average volume of 2,988,391. The stock has a market cap of $155.80 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.78 and a beta of 0.62. The company has a quick ratio of 2.56, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The firm has a 50 day moving average of $295.30 and a two-hundred day moving average of $274.19. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGNGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.09 EPS. On average, research analysts anticipate that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Friday, February 16th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from Amgen’s previous quarterly dividend of $2.13. The ex-dividend date of this dividend is Thursday, February 15th. Amgen’s dividend payout ratio is presently 68.21%.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,096 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the sale, the senior vice president now directly owns 10,874 shares of the company’s stock, valued at approximately $2,968,928.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of analyst reports. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Morgan Stanley lowered their price objective on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday. Royal Bank of Canada lifted their price objective on Amgen from $303.00 to $329.00 and gave the company an “outperform” rating in a report on Wednesday. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, BMO Capital Markets raised Amgen from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $286.00 to $326.00 in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $295.30.

Read Our Latest Report on AMGN

About Amgen

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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