Alpha Cubed Investments LLC Has $14.46 Million Holdings in Amgen Inc. (AMGN)
Alpha Cubed Investments LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 20.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,982 shares of the medical research company’s stock after acquiring an additional 14,223 shares during the period. Amgen accounts for approximately 2.5% of Alpha Cubed Investments LLC’s portfolio, making the stock its 10th largest position. Alpha Cubed Investments LLC’s holdings in Amgen were worth $14,464,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. TrimTabs Asset Management LLC boosted its stake in Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after acquiring an additional 288 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its stake in Amgen by 19.0% in the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after acquiring an additional 100 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after acquiring an additional 4 shares in the last quarter. American Beacon Advisors Inc. acquired a new position in Amgen in the first quarter valued at $106,000. Finally, Nelson Roberts Investment Advisors LLC acquired a new position in Amgen in the first quarter valued at $121,000. Institutional investors own 78.10% of the company’s stock.
Several equities analysts have issued reports on the stock. Credit Suisse Group upped their price objective on shares of Amgen from $177.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday. Mizuho restated a “buy” rating and issued a $198.00 price objective (up previously from $183.00) on shares of Amgen in a research note on Thursday. Jefferies Group LLC restated a “buy” rating and issued a $200.00 price objective on shares of Amgen in a research note on Monday, September 25th. BMO Capital Markets restated a “hold” rating and issued a $199.00 price objective on shares of Amgen in a research note on Monday, September 25th. Finally, Royal Bank Of Canada assumed coverage on shares of Amgen in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $188.41.
Amgen Inc. (NASDAQ AMGN) opened at 186.45 on Friday. The firm has a 50-day moving average of $175.99 and a 200-day moving average of $169.31. The stock has a market capitalization of $136.05 billion, a PE ratio of 16.98 and a beta of 1.35. Amgen Inc. has a one year low of $133.64 and a one year high of $191.10.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The company had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same period in the previous year, the firm earned $2.84 EPS. Amgen’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post $12.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 17th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.47%. Amgen’s dividend payout ratio (DPR) is 41.93%.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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