Prime Capital Investment Advisors LLC Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Prime Capital Investment Advisors LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,421 shares of the medical research company’s stock after purchasing an additional 1,467 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Amgen were worth $15,602,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Amgen during the third quarter worth $25,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the second quarter worth $30,000. nVerses Capital LLC acquired a new position in Amgen during the second quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen during the second quarter worth $33,000. Finally, Matrix Trust Co acquired a new position in Amgen during the third quarter worth $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of several recent analyst reports. Barclays upped their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $333.50.

Amgen Stock Down 0.6 %

NASDAQ AMGN traded down $1.98 during trading hours on Tuesday, hitting $319.83. 111,153 shares of the company were exchanged, compared to its average volume of 2,400,034. The company has a 50 day moving average of $323.37 and a two-hundred day moving average of $318.07. 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 Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The firm has a market cap of $171.92 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.90 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results 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 return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the business earned $4.96 EPS. Amgen’s revenue was up 23.2% on a year-over-year basis. Equities research analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

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