SGL Investment Advisors Inc. Makes New $790,000 Investment in Amgen Inc. (NASDAQ:AMGN)

SGL Investment Advisors Inc. purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,668 shares of the medical research company's stock, valued at approximately $790,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC lifted its holdings in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. International Assets Investment Management LLC increased its position in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company's stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company's stock valued at $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC boosted its position in Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company's stock valued at $223,897,000 after buying an additional 748,200 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock worth $1,657,183,000 after buying an additional 538,545 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com downgraded Amgen from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 28th. UBS Group decreased their target price on Amgen from $335.00 to $326.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. TD Cowen boosted their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Truist Financial cut shares of Amgen from a "buy" rating to a "hold" rating and increased their price target for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Finally, Dbs Bank upgraded shares of Amgen to a "strong-buy" rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and an average target price of $323.05.

Amgen Stock Down 0.6 %

Shares of AMGN traded down $1.75 during midday trading on Monday, hitting $272.58. The stock had a trading volume of 3,970,337 shares, compared to its average volume of 4,574,809. The firm has a market cap of $146.52 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55. The company has a 50 day simple moving average of $306.58 and a two-hundred day simple moving average of $315.86. Amgen Inc. has a twelve month low of $257.80 and a twelve month high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS 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 firm had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.50 billion. During the same quarter in the previous year, the business posted $4.96 EPS. The business's quarterly revenue was up 23.2% compared to the same quarter last year. On average, analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.30%. Amgen's dividend payout ratio is currently 115.24%.

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.