SGL Investment Advisors Inc. Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

SGL Investment Advisors Inc. bought a new position in Amgen Inc. (NASDAQ:AMGN) in the third quarter, HoldingsChannel reports. The fund bought 2,668 shares of the medical research company’s stock, valued at approximately $790,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lantz Financial LLC raised its stake in Amgen by 5.1% during the second quarter. Lantz Financial LLC now owns 1,779 shares of the medical research company’s stock worth $556,000 after buying an additional 87 shares during the last quarter. M&G Plc boosted its position in shares of Amgen by 35.6% during the 2nd quarter. M&G Plc now owns 36,449 shares of the medical research company’s stock worth $11,372,000 after purchasing an additional 9,572 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the second quarter worth approximately $33,000. Gemmer Asset Management LLC raised its stake in shares of Amgen by 75.3% in the second quarter. Gemmer Asset Management LLC now owns 1,443 shares of the medical research company’s stock worth $451,000 after purchasing an additional 620 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. purchased a new position in shares of Amgen during the second quarter valued at approximately $402,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN opened at $272.58 on Monday. The company has a market cap of $146.52 billion, a PE ratio of 34.90, a P/E/G ratio of 3.08 and a beta of 0.55. Amgen Inc. has a 52-week low of $257.80 and a 52-week high of $346.85. 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 firm’s 50 day moving average price is $306.58 and its 200-day moving average price is $315.86.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.96 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Citigroup decreased their price objective on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Sanford C. Bernstein started coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Wolfe Research assumed coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. 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 equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $323.05.

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.