Summit Trail Advisors LLC Acquires 2,163 Shares of Amgen Inc. (NASDAQ:AMGN)

Summit Trail Advisors LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 40.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,552 shares of the medical research company’s stock after purchasing an additional 2,163 shares during the quarter. Summit Trail Advisors LLC’s holdings in Amgen were worth $2,433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Keynote Financial Services LLC raised its holdings in Amgen by 0.6% in the second 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 in the last quarter. Ascent Group LLC grew its stake in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares during the last quarter. Hofer & Associates. Inc grew 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 last quarter. Cadinha & Co. LLC grew its stake in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 32 shares during the last quarter. Finally, Lansing Street Advisors grew its stake in shares of Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on AMGN. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Finally, Barclays increased their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $333.57.

Amgen Trading Up 1.6 %

Shares of Amgen stock opened at $294.53 on Monday. The firm has a market capitalization of $158.32 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 2.59 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $260.68 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a 50 day moving average of $316.52 and a 200 day moving average of $318.18.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the business posted $4.96 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, research analysts predict that Amgen Inc. will post 19.52 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.06%. Amgen’s dividend payout ratio (DPR) 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.