Signature Estate & Investment Advisors LLC Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Signature Estate & Investment Advisors LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 31.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,645 shares of the medical research company’s stock after purchasing an additional 878 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Amgen were worth $1,139,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Keynote Financial Services LLC raised its position in shares of Amgen by 0.6% during the 2nd 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 last quarter. RFP Financial Group LLC raised its position in shares of Amgen by 17.1% during the 1st 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 last quarter. Hofer & Associates. Inc raised its position in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after purchasing an additional 32 shares during the last quarter. Blossom Wealth Management raised its position in shares of Amgen by 3.3% during the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after purchasing an additional 33 shares during the last quarter. Finally, Legacy Capital Group California Inc. raised its position in shares of Amgen by 1.1% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock worth $955,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.0 %

Amgen stock traded down $0.07 during trading hours on Tuesday, hitting $326.71. The company had a trading volume of 107,804 shares, compared to its average volume of 2,562,978. The firm has a market capitalization of $175.26 billion, a P/E ratio of 46.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The firm’s fifty day moving average is $323.17 and its 200-day moving average is $299.76. Amgen Inc. has a fifty-two week low of $248.38 and a fifty-two week high of $346.85.

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

Amgen Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMGN. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. BMO Capital Markets lifted their target price on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Morgan Stanley lowered their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Amgen 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.