Apollon Financial LLC Has $289,000 Position in Amgen Inc. (NASDAQ:AMGN)

Apollon Financial LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 896 shares of the medical research company’s stock after buying an additional 53 shares during the period. Apollon Financial LLC’s holdings in Amgen were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. MAI Capital Management increased its position in Amgen by 17.8% during the first quarter. MAI Capital Management now owns 45,774 shares of the medical research company’s stock worth $13,014,000 after acquiring an additional 6,933 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in shares of Amgen by 63.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,230 shares of the medical research company’s stock valued at $634,000 after buying an additional 866 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in Amgen by 53.9% in the 1st quarter. Koshinski Asset Management Inc. now owns 11,041 shares of the medical research company’s stock valued at $3,139,000 after acquiring an additional 3,867 shares in the last quarter. Patton Fund Management Inc. acquired a new position in Amgen in the first quarter valued at about $4,146,000. Finally, Pettyjohn Wood & White Inc. raised its position in shares of Amgen by 1.9% in the 1st quarter. Pettyjohn Wood & White Inc. now owns 2,622 shares of the medical research company’s stock valued at $746,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $321.81 on Tuesday. Amgen Inc. has a 1 year low of $260.52 and a 1 year high of $346.85. The stock’s fifty day moving average price is $323.37 and its two-hundred day moving average price is $318.07. The firm has a market cap of $172.98 billion, a PE ratio of 41.20, a PEG ratio of 2.90 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 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 analysts’ expectations of $8.50 billion. During the same period in the prior year, the company posted $4.96 EPS. Amgen’s revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast 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. 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 2.80%. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMGN shares. Sanford C. Bernstein assumed coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Barclays lifted their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, UBS Group reduced their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $333.50.

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.