Beacon Investment Advisory Services Inc. Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Beacon Investment Advisory Services Inc. lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 42,439 shares of the medical research company’s stock after acquiring an additional 746 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Amgen were worth $13,674,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Keynote Financial Services LLC increased its holdings in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the period. Ascent Group LLC boosted its holdings in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after acquiring an additional 31 shares during the last quarter. Hofer & Associates. Inc increased its stake in shares of Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares during the period. Cadinha & Co. LLC raised its holdings in shares of Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares during the last quarter. Finally, Lansing Street Advisors lifted its position in Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMGN. Deutsche Bank Aktiengesellschaft decreased their price objective on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their price target on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective for the company. Finally, StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $323.05.

Amgen Stock Up 1.0 %

Shares of NASDAQ AMGN opened at $282.87 on Monday. The company has a market capitalization of $152.05 billion, a P/E ratio of 36.22, a P/E/G ratio of 2.52 and a beta of 0.60. Amgen Inc. has a 1 year low of $257.80 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a 50 day simple moving average of $311.37 and a 200-day simple moving average of $317.16.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.96 EPS. On average, equities research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

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 $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

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.