Amgen Inc. (NASDAQ:AMGN) Position Boosted by Catalina Capital Group LLC

Catalina Capital Group LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 10.1% during the third quarter, Holdings Channel reports. The firm owned 2,330 shares of the medical research company’s stock after purchasing an additional 213 shares during the period. Catalina Capital Group LLC’s holdings in Amgen were worth $751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meyer Handelman Co. grew its holdings in shares of Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after acquiring an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in Amgen by 11.0% during 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. Stanley Laman Group Ltd. purchased a new stake in Amgen during the second quarter valued at about $3,354,000. Verity & Verity LLC lifted its stake in Amgen by 2.7% during the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock valued at $25,736,000 after buying an additional 2,182 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY increased its position in shares of Amgen by 9.3% in the second quarter. Matrix Asset Advisors Inc. NY now owns 45,068 shares of the medical research company’s stock worth $14,081,000 after acquiring an additional 3,845 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on AMGN. 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. Barclays lifted their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. TD Cowen lifted their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Oppenheimer restated an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Stock Up 0.8 %

Amgen stock opened at $319.29 on Wednesday. The firm has a market cap of $171.56 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 2.81 and a beta of 0.60. The firm has a fifty day moving average price of $324.12 and a two-hundred day moving average price of $316.64. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week 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.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the firm posted $4.96 EPS. The company’s revenue was up 23.2% on a year-over-year basis. As a group, analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 2.82%. Amgen’s dividend payout ratio is 115.24%.

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.