Beacon Investment Advisory Services Inc. Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Beacon Investment Advisory Services Inc. lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,439 shares of the medical research company’s stock after purchasing an additional 746 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Amgen were worth $13,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the 3rd quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen during the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen in the second quarter worth approximately $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen in the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AMGN shares. Leerink Partners cut their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Thursday. UBS Group decreased their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $323.05.

Amgen Trading Up 1.0 %

AMGN stock opened at $282.87 on Monday. The company has a market capitalization of $152.05 billion, a PE ratio of 36.22, a P/E/G ratio of 2.52 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 Inc. has a 12 month low of $257.80 and a 12 month high of $346.85. The firm’s 50-day moving average is $311.37 and its 200 day moving average is $317.16.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the business posted $4.96 EPS. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.18%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.