Garden State Investment Advisory Services LLC Acquires 62 Shares of Amgen Inc. (NASDAQ:AMGN)

Garden State Investment Advisory Services LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 806 shares of the medical research company’s stock after purchasing an additional 62 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Amgen were worth $260,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AMGN. Lynx Investment Advisory acquired a new position in shares of Amgen in the 2nd quarter valued at approximately $68,000. Apella Capital LLC raised its position in shares of Amgen by 3.8% in the 2nd quarter. Apella Capital LLC now owns 1,228 shares of the medical research company’s stock valued at $388,000 after buying an additional 45 shares in the last quarter. Prism Advisors Inc. acquired a new position in shares of Amgen in the 2nd quarter valued at approximately $430,000. Albion Financial Group UT raised its position in shares of Amgen by 0.7% in the 2nd quarter. Albion Financial Group UT now owns 26,107 shares of the medical research company’s stock valued at $8,157,000 after buying an additional 171 shares in the last quarter. Finally, NBC Securities Inc. raised its position in shares of Amgen by 7.1% in the 2nd quarter. NBC Securities Inc. now owns 6,679 shares of the medical research company’s stock valued at $2,086,000 after buying an additional 443 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several analyst reports. Sanford C. Bernstein assumed coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 28th. Redburn Partners lowered their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Finally, Bank of America upped their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $323.05.

Amgen Stock Down 1.7 %

Shares of NASDAQ AMGN opened at $278.10 on Tuesday. The firm has a market cap of $149.49 billion, a PE ratio of 35.61, a P/E/G ratio of 2.52 and a beta of 0.60. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85. The company’s fifty day simple moving average is $311.37 and its 200 day simple moving average is $317.16. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

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

Amgen Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 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.