GHP Investment Advisors Inc. Purchases 1,005 Shares of Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

GHP Investment Advisors Inc. grew its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,914 shares of the medical research company’s stock after purchasing an additional 1,005 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Amgen were worth $8,028,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new position in Amgen during the second quarter worth about $26,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the second quarter worth approximately $30,000. nVerses Capital LLC acquired a new stake in shares of Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen during the second quarter worth approximately $33,000. Finally, Matrix Trust Co bought a new position in Amgen during the 3rd quarter worth $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.4 %

Shares of Amgen stock traded up $1.29 on Friday, hitting $316.98. The company had a trading volume of 1,604,649 shares, compared to its average volume of 2,427,964. The stock has a market capitalization of $170.04 billion, a price-to-earnings ratio of 45.28, a P/E/G ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The stock has a 50 day moving average of $325.49 and a 200-day moving average of $313.47.

Amgen (NASDAQ:AMGN – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the previous year, the company posted $5.00 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.84%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AMGN shares. Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday. Sanford C. Bernstein initiated coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Robert W. Baird restated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $332.55.

Read Our Latest Report on AMGN

Amgen Company Profile

(Free Report)

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.

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