Livelsberger Financial Advisory Makes New $56,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Livelsberger Financial Advisory bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 175 shares of the medical research company’s stock, valued at approximately $56,000. Amgen comprises about 1.2% of Livelsberger Financial Advisory’s investment portfolio, making the stock its 24th largest holding.

Several other large investors also recently bought and sold shares of the stock. Keynote Financial Services LLC grew its stake 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 period. Ascent Group LLC increased its holdings in Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares in the last quarter. RFP Financial Group LLC increased its holdings in Amgen by 17.1% in the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after buying an additional 32 shares in the last quarter. Hofer & Associates. Inc boosted its stake 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 acquiring an additional 32 shares in the last quarter. Finally, Cadinha & Co. LLC grew its holdings in shares of Amgen by 0.6% in the 3rd 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 period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN traded down $3.50 during midday trading on Monday, reaching $318.16. 615,120 shares of the company traded hands, compared to its average volume of 2,439,381. The firm has a market capitalization of $170.67 billion, a price-to-earnings ratio of 45.54, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a fifty day moving average price of $326.07 and a 200 day moving average price of $312.41. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period last year, the firm posted $5.00 EPS. The business’s revenue was up 20.1% compared to the same quarter last year. On average, analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.83%. Amgen’s payout ratio is currently 128.57%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Robert W. Baird restated an “underperform” rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Bank of America lifted their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Morgan Stanley cut their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $332.55.

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.