Jaffetilchin Investment Partners LLC Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

Jaffetilchin Investment Partners LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 16.5% during the 3rd quarter, Holdings Channel reports. The firm owned 2,185 shares of the medical research company’s stock after buying an additional 309 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Amgen were worth $704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Meyer Handelman Co. raised its stake in shares of Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after buying an additional 8,700 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after purchasing an additional 2,353 shares in the last quarter. Cornerstone Capital Inc. grew its holdings in Amgen by 3.2% during the third quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock worth $34,328,000 after acquiring an additional 3,260 shares during the period. Stanley Laman Group Ltd. acquired a new position in shares of Amgen in the 2nd quarter valued at $3,354,000. Finally, Verity & Verity LLC boosted its holdings in shares of Amgen by 2.7% during the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after purchasing an additional 2,182 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. 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. Sanford C. Bernstein assumed coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. TD Cowen lifted their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen Stock Performance

Shares of AMGN opened at $321.81 on Tuesday. The company has a market capitalization of $172.98 billion, a price-to-earnings ratio of 41.20, a price-to-earnings-growth ratio of 2.90 and a beta of 0.60. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The stock has a 50 day moving average price of $323.61 and a 200 day moving average price of $317.70. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the company posted $4.96 EPS. The company’s revenue was up 23.2% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 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.