Regal Investment Advisors LLC Raises Stock Position in Amgen Inc. (NASDAQ:AMGN)

Regal Investment Advisors LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,171 shares of the medical research company’s stock after acquiring an additional 63 shares during the quarter. Regal Investment Advisors LLC’s holdings in Amgen were worth $1,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grassi Investment Management purchased a new stake in Amgen in the 1st quarter worth $2,283,000. Public Employees Retirement System of Ohio boosted its stake in Amgen by 1.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock worth $81,161,000 after purchasing an additional 4,376 shares during the last quarter. Meyer Handelman Co. boosted its stake in Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in Amgen by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock worth $1,388,000 after purchasing an additional 57 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. acquired a new stake in Amgen during the 4th quarter worth $803,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Robert W. Baird reissued an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, TD Cowen boosted their price target on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $325.55.

Amgen Stock Performance

Shares of AMGN opened at $322.21 on Tuesday. The stock has a 50 day moving average price of $328.49 and a 200 day moving average price of $308.12. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $172.84 billion, a price-to-earnings ratio of 46.03, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $5.00 earnings per share. Research analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

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.