Signature Estate & Investment Advisors LLC Purchases 878 Shares of Amgen Inc. (NASDAQ:AMGN)

Signature Estate & Investment Advisors LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 31.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,645 shares of the medical research company’s stock after acquiring an additional 878 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Amgen were worth $1,139,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMGN. Keynote Financial Services LLC raised its position in shares of Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares during the period. RFP Financial Group LLC raised its position in shares of Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after purchasing an additional 32 shares during the period. Hofer & Associates. Inc raised its position in Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after buying an additional 32 shares during the last quarter. Blossom Wealth Management raised its position in Amgen by 3.3% in the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock valued at $320,000 after buying an additional 33 shares during the last quarter. Finally, Legacy Capital Group California Inc. raised its position in Amgen by 1.1% in the 2nd quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock valued at $955,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 0.0 %

Shares of NASDAQ AMGN traded down $0.07 during mid-day trading on Tuesday, hitting $326.71. 107,804 shares of the stock traded hands, compared to its average volume of 2,562,978. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. Amgen Inc. has a 52 week low of $248.38 and a 52 week high of $346.85. The company has a market cap of $175.26 billion, a price-to-earnings ratio of 46.68, a PEG ratio of 2.78 and a beta of 0.58. The stock has a fifty day moving average price of $323.17 and a 200-day moving average price of $299.76.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.00 EPS. Research analysts anticipate that Amgen Inc. will post 19.5 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Argus raised their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.89.

Amgen 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.