Pathstone Holdings LLC Has $31.77 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Pathstone Holdings LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 98,605 shares of the medical research company’s stock after purchasing an additional 1,694 shares during the period. Pathstone Holdings LLC’s holdings in Amgen were worth $31,772,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMGN. Capital Performance Advisors LLP purchased a new stake in Amgen in the 3rd quarter worth about $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen in the second quarter worth approximately $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the second quarter worth approximately $30,000. nVerses Capital LLC purchased a new position in Amgen during the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $278.76 on Tuesday. The company has a market cap of $149.84 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.53 and a beta of 0.60. The business has a 50 day moving average price of $319.90 and a 200 day moving average price of $318.65. 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 twelve month low of $260.52 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the business earned $4.96 earnings per share. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 19.51 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 issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.23%. Amgen’s payout ratio is 115.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, UBS Group dropped their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $333.57.

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.