General American Investors Co. Inc. Has $9.67 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

General American Investors Co. Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 20.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the medical research company’s stock after acquiring an additional 5,000 shares during the quarter. General American Investors Co. Inc.’s holdings in Amgen were worth $9,666,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Strategic Financial Concepts LLC acquired a new position in shares of Amgen during the second quarter worth $26,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the 2nd quarter worth about $30,000. nVerses Capital LLC bought a new position in Amgen in the second quarter valued at about $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the second quarter valued at about $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen during the third quarter worth about $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMGN. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Finally, Sanford C. Bernstein initiated coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen Stock Down 0.6 %

NASDAQ AMGN traded down $1.93 during mid-day trading on Thursday, hitting $319.86. The company’s stock had a trading volume of 77,284 shares, compared to its average volume of 2,400,304. The firm has a market capitalization of $171.87 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.81 and a beta of 0.60. The company’s 50 day simple moving average is $323.96 and its 200 day simple moving average is $316.68. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating 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 firm 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 earned $4.96 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. Analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) 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.