GEM Asset Management LLC Has $238,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

GEM Asset Management LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 14.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 749 shares of the medical research company’s stock after purchasing an additional 93 shares during the quarter. GEM Asset Management LLC’s holdings in Amgen were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the 2nd quarter worth approximately $30,000. nVerses Capital LLC acquired a new position in shares of Amgen in the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC bought a new position in Amgen in the 2nd quarter worth approximately $33,000. Matrix Trust Co bought a new position in Amgen in the 3rd quarter worth approximately $36,000. Finally, FSA Wealth Management LLC raised its position in Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after purchasing an additional 91 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Argus boosted their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.30.

Amgen Trading Down 0.2 %

Shares of AMGN traded down $0.78 during trading hours on Thursday, reaching $321.63. The stock had a trading volume of 471,146 shares, compared to its average volume of 2,467,382. 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 firm has a 50-day moving average of $326.46 and a 200 day moving average of $310.14. The company has a market cap of $172.53 billion, a P/E ratio of 46.06, a P/E/G ratio of 2.98 and a beta of 0.61.

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

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio 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.