Payden & Rygel Buys 200 Shares of Amgen Inc. (NASDAQ:AMGN)

Payden & Rygel raised its stake in Amgen Inc. (NASDAQ:AMGN) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,400 shares of the medical research company’s stock after acquiring an additional 200 shares during the quarter. Payden & Rygel’s holdings in Amgen were worth $11,406,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meyer Handelman Co. lifted its holdings in Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the last quarter. Swiss National Bank raised its position in shares of Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after purchasing an additional 5,500 shares during the period. Napa Wealth Management purchased a new stake in shares of Amgen during the 3rd quarter valued at approximately $1,104,000. EP Wealth Advisors LLC boosted its holdings 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 worth $6,758,000 after buying an additional 2,353 shares during the period. Finally, Second Half Financial Partners LLC purchased a new position in Amgen in the 3rd quarter valued at approximately $3,413,000. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Price Performance

Shares of Amgen stock opened at $287.87 on Thursday. The firm has a market capitalization of $154.74 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The business’s 50-day moving average price is $318.08 and its 200-day moving average price is $318.22.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the business earned $4.96 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared 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. This represents a $9.00 annualized dividend and a yield of 3.13%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

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.