Angeles Investment Advisors LLC Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Angeles Investment Advisors LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 10.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,332 shares of the medical research company’s stock after selling 259 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Amgen were worth $729,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMGN. Fairfield Financial Advisors LTD purchased a new stake in Amgen during the second quarter valued at about $2,528,000. Brown Brothers Harriman & Co. raised its position in shares of Amgen by 21.0% in the second quarter. Brown Brothers Harriman & Co. now owns 20,452 shares of the medical research company’s stock valued at $6,390,000 after purchasing an additional 3,555 shares during the period. Quilter Plc lifted its stake in shares of Amgen by 1.4% during the 2nd quarter. Quilter Plc now owns 3,749 shares of the medical research company’s stock valued at $1,171,000 after buying an additional 50 shares in the last quarter. Rathbones Group PLC grew its stake in Amgen by 21.1% in the 2nd quarter. Rathbones Group PLC now owns 11,774 shares of the medical research company’s stock valued at $3,679,000 after buying an additional 2,054 shares in the last quarter. Finally, Plato Investment Management Ltd raised its holdings in Amgen by 5.2% during the 2nd quarter. Plato Investment Management Ltd now owns 17,973 shares of the medical research company’s stock valued at $5,616,000 after acquiring an additional 885 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Morgan Stanley lowered their price target 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Finally, TD Cowen raised their price target on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Price Performance

Shares of Amgen stock opened at $332.45 on Monday. The business has a 50 day moving average of $328.18 and a 200 day moving average of $304.00. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a market cap of $178.64 billion, a PE ratio of 47.49, a P/E/G ratio of 2.93 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

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

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.71%. Amgen’s dividend payout ratio (DPR) is 128.57%.

About Amgen

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.