Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Good Life Advisors LLC

Good Life Advisors LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 17.3% during the third quarter, Holdings Channel reports. The firm owned 1,651 shares of the medical research company’s stock after acquiring an additional 243 shares during the quarter. Good Life Advisors LLC’s holdings in Amgen were worth $532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meyer Handelman Co. grew its position in Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares in the last quarter. Royal Fund Management LLC increased its stake in Amgen by 20.1% during the 1st quarter. Royal Fund Management LLC now owns 17,378 shares of the medical research company’s stock worth $4,960,000 after buying an additional 2,914 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Amgen by 37.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock worth $3,310,000 after buying an additional 3,168 shares in the last quarter. Oak Harvest Investment Services boosted its position in Amgen by 19.1% in the 1st quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock valued at $10,823,000 after buying an additional 6,116 shares during the period. Finally, EP Wealth Advisors LLC grew its stake in shares of Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after acquiring an additional 2,353 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN opened at $321.66 on Friday. 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 Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The firm has a 50-day simple moving average of $326.07 and a 200-day simple moving average of $311.90. The company has a market capitalization of $172.55 billion, a price-to-earnings ratio of 45.95, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

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

Amgen Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. Amgen’s payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMGN. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Cantor Fitzgerald initiated coverage on Amgen in a research note on Friday, September 27th. They issued an “overweight” rating and a $405.00 price objective for the company. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $329.48.

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.