Strategic Investment Advisors MI Boosts Stake in Amgen Inc. (NASDAQ:AMGN)

Strategic Investment Advisors MI raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 17.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,228 shares of the medical research company’s stock after buying an additional 780 shares during the quarter. Strategic Investment Advisors MI’s holdings in Amgen were worth $1,317,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. raised its holdings in shares of Amgen by 0.3% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 53,432 shares of the medical research company’s stock worth $13,580,000 after acquiring an additional 153 shares in the last quarter. Paulson Wealth Management Inc. purchased a new position in shares of Amgen in the third quarter valued at $299,000. Alpha Cubed Investments LLC increased its position in Amgen by 4.5% in the third quarter. Alpha Cubed Investments LLC now owns 103,346 shares of the medical research company’s stock worth $26,266,000 after purchasing an additional 4,482 shares during the last quarter. Joel Isaacson & Co. LLC raised its stake in Amgen by 2.7% during the third quarter. Joel Isaacson & Co. LLC now owns 3,487 shares of the medical research company’s stock valued at $886,000 after purchasing an additional 91 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in Amgen by 41.0% during the third quarter. Avantax Advisory Services Inc. now owns 33,344 shares of the medical research company’s stock valued at $8,483,000 after purchasing an additional 9,689 shares during the last quarter. 75.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ AMGN opened at $235.72 on Friday. Amgen Inc. has a 52-week low of $177.05 and a 52-week high of $264.97. The firm has a market capitalization of $138.06 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.11 and a beta of 0.81. The stock has a 50 day moving average price of $246.43 and a 200 day moving average price of $237.88. The company has a debt-to-equity ratio of 3.20, a quick ratio of 1.81 and a current ratio of 2.18.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 28th. The medical research company reported $4.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.81 by $0.44. Amgen had a return on equity of 91.98% and a net margin of 30.04%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period in the previous year, the company posted $3.97 EPS. Amgen’s revenue was up 5.7% on a year-over-year basis. Analysts forecast that Amgen Inc. will post 15.66 earnings per share for the current year.

In related news, Director R Sanders Williams sold 250 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $242.95, for a total transaction of $60,737.50. Following the sale, the director now directly owns 5,159 shares of the company’s stock, valued at $1,253,379.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $259.79, for a total value of $259,790.00. Following the transaction, the director now owns 16,589 shares of the company’s stock, valued at $4,309,656.31. The disclosure for this sale can be found here. Insiders have sold a total of 2,250 shares of company stock worth $561,548 in the last three months. Insiders own 0.36% of the company’s stock.

AMGN has been the topic of several recent research reports. Sanford C. Bernstein cut shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Friday, October 9th. SVB Leerink upped their price objective on Amgen from $253.00 to $261.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald raised their price objective on Amgen from $263.00 to $279.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Raymond James reissued a “market perform” rating on shares of Amgen in a research report on Tuesday, October 6th. Finally, Credit Suisse Group restated a “buy” rating on shares of Amgen in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $255.08.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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