Harbour Investments Inc. Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Harbour Investments Inc. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.5% in the third quarter, Holdings Channel reports. The institutional investor owned 5,588 shares of the medical research company’s stock after acquiring an additional 483 shares during the period. Harbour Investments Inc.’s holdings in Amgen were worth $1,801,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Amgen in the third quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC purchased a new stake in Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC acquired a new stake in Amgen in the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Amgen in the second quarter worth $33,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $301.44 on Thursday. The stock has a market capitalization of $162.03 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 2.67 and a beta of 0.60. The stock has a 50-day moving average of $322.74 and a 200 day moving average of $318.27. 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 announced its earnings results 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. The firm 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 business’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.96 EPS. Sell-side analysts anticipate that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 2.99%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMGN shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. UBS Group lowered their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Barclays raised their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One research 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $333.50.

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.