Angeles Investment Advisors LLC Sells 135 Shares of Amgen Inc. (NASDAQ:AMGN)

Angeles Investment Advisors LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,197 shares of the medical research company’s stock after selling 135 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Amgen were worth $708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Amgen in the 3rd quarter worth about $25,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $30,000. nVerses Capital LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 2.0 %

AMGN traded up $5.86 on Wednesday, hitting $304.70. The company had a trading volume of 648,794 shares, compared to its average volume of 2,421,933. 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 market capitalization of $163.79 billion, a price-to-earnings ratio of 38.26, a P/E/G ratio of 2.87 and a beta of 0.60. The stock has a fifty day moving average price of $322.74 and a 200-day moving average price of $318.27. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 earnings per share. The company’s revenue was up 23.2% compared to the same quarter last year. Analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMGN shares. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and boosted their price objective for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Oppenheimer reiterated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, UBS Group lowered their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One investment 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $333.50.

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.