Gabelli Funds LLC Has $16.05 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Gabelli Funds LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.1% during the second quarter, HoldingsChannel.com reports. The fund owned 51,380 shares of the medical research company’s stock after selling 35 shares during the period. Gabelli Funds LLC’s holdings in Amgen were worth $16,054,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Aveo Capital Partners LLC increased its stake in shares of Amgen by 19.9% in the 4th quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after buying an additional 453 shares during the period. Gryphon Financial Partners LLC raised its holdings in Amgen by 295.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock worth $1,021,000 after purchasing an additional 2,752 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in Amgen by 13.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 29,285 shares of the medical research company’s stock valued at $9,104,000 after purchasing an additional 3,533 shares during the period. Godshalk Welsh Capital Management Inc. bought a new position in shares of Amgen in the 4th quarter valued at about $206,000. Finally, Glassman Wealth Services boosted its stake in shares of Amgen by 12.4% in the 4th quarter. Glassman Wealth Services now owns 864 shares of the medical research company’s stock valued at $249,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AMGN. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Royal Bank of Canada increased their price target on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Finally, Bank of America increased their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Stock Up 0.4 %

NASDAQ:AMGN opened at $337.38 on Monday. The stock has a 50-day simple moving average of $329.57 and a 200 day simple moving average of $306.03. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a market cap of $180.98 billion, a PE ratio of 48.20, a PEG ratio of 2.93 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the business earned $5.00 earnings per share. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, sell-side analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

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.