Live Oak Investment Partners Has $246,000 Position in Amgen Inc. (NASDAQ:AMGN)

Live Oak Investment Partners lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 14.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 765 shares of the medical research company’s stock after selling 128 shares during the period. Live Oak Investment Partners’ holdings in Amgen were worth $246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AMGN. Capital Performance Advisors LLP bought a new position in Amgen in the third quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new position in Amgen in the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC bought a new position in Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC bought a new position in Amgen in the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the second quarter worth $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Trading Down 7.1 %

AMGN opened at $298.84 on Wednesday. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company has a fifty day moving average of $323.37 and a 200-day moving average of $318.07. The stock has a market cap of $160.64 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.90 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the company posted $4.96 earnings per share. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, sell-side analysts predict that Amgen Inc. will post 19.51 EPS 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 paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is presently 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.