Advance Capital Management Inc. Has $2.05 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Advance Capital Management Inc. boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,359 shares of the medical research company’s stock after buying an additional 49 shares during the quarter. Advance Capital Management Inc.’s holdings in Amgen were worth $2,049,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Nomura Holdings Inc. bought a new stake in Amgen during the 4th quarter worth approximately $3,104,000. Bennett Associates Wealth Management purchased a new stake in shares of Amgen in the fourth quarter valued at about $474,000. MGO One Seven LLC raised its stake in Amgen by 4.4% in the 4th quarter. MGO One Seven LLC now owns 6,363 shares of the medical research company’s stock valued at $1,833,000 after acquiring an additional 268 shares during the period. Bridgewater Associates LP lifted its stake in shares of Amgen by 421.1% during the 4th quarter. Bridgewater Associates LP now owns 144,483 shares of the medical research company’s stock valued at $41,614,000 after buying an additional 116,758 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new position in Amgen in the 4th quarter worth about $934,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Cantor Fitzgerald began coverage on shares of Amgen in a research note on Friday, September 27th. They set an “overweight” rating and a $405.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $326.30.

Amgen Stock Down 0.7 %

Shares of NASDAQ AMGN opened at $317.45 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a market cap of $170.29 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 2.98 and a beta of 0.61. The firm’s fifty day moving average is $327.28 and its 200 day moving average is $309.48.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.00 EPS. On average, equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.84%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.