Laffer Tengler Investments Inc. Has $906,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Laffer Tengler Investments Inc. raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,813 shares of the medical research company’s stock after buying an additional 55 shares during the period. Laffer Tengler Investments Inc.’s holdings in Amgen were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Meyer Handelman Co. grew its holdings in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC increased its position in Amgen by 11.0% in the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after acquiring an additional 2,353 shares in the last quarter. Cornerstone Capital Inc. raised its stake in shares of Amgen by 3.2% in the third quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock worth $34,328,000 after acquiring an additional 3,260 shares during the last quarter. Stanley Laman Group Ltd. acquired a new position in shares of Amgen during the second quarter worth approximately $3,354,000. Finally, Verity & Verity LLC grew its stake in shares of Amgen by 2.7% during the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock valued at $25,736,000 after purchasing an additional 2,182 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.3 %

Amgen stock traded down $0.86 during mid-day trading on Monday, reaching $324.42. The company’s stock had a trading volume of 474,784 shares, compared to its average volume of 2,401,242. The business’s 50 day simple moving average is $323.61 and its 200 day simple moving average is $317.70. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The company has a market capitalization of $174.39 billion, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 2.87 and a beta of 0.60.

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 return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the business earned $4.96 earnings per share. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, research analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMGN. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Barclays raised their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Robert W. Baird reissued an “underperform” rating and set a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen 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.