Sterneck Capital Management LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the third quarter, HoldingsChannel reports. The firm purchased 800 shares of the medical research company’s stock, valued at approximately $203,000.

Several other hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its stake in Amgen by 0.4% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 929,585 shares of the medical research company’s stock worth $188,455,000 after purchasing an additional 3,643 shares in the last quarter. APG Asset Management N.V. increased its stake in Amgen by 67.7% during the 1st quarter. APG Asset Management N.V. now owns 732,305 shares of the medical research company’s stock worth $148,460,000 after purchasing an additional 295,600 shares in the last quarter. CWA Asset Management Group LLC increased its stake in Amgen by 7.6% during the 1st quarter. CWA Asset Management Group LLC now owns 2,413 shares of the medical research company’s stock worth $489,000 after purchasing an additional 171 shares in the last quarter. London & Capital Asset Management Ltd increased its stake in Amgen by 16.6% during the 1st quarter. London & Capital Asset Management Ltd now owns 112,884 shares of the medical research company’s stock worth $22,886,000 after purchasing an additional 16,108 shares in the last quarter. Finally, Morgan Stanley increased its stake in Amgen by 7.4% during the 1st quarter. Morgan Stanley now owns 7,263,835 shares of the medical research company’s stock worth $1,472,598,000 after purchasing an additional 501,592 shares in the last quarter. 75.23% of the stock is owned by institutional investors.

AMGN stock opened at $235.72 on Friday. The company has a debt-to-equity ratio of 3.20, a current ratio of 2.18 and a quick ratio of 1.81. The stock 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 business’s fifty day moving average price is $246.43 and its two-hundred day moving average price is $237.88. Amgen Inc. has a fifty-two week low of $177.05 and a fifty-two week high of $264.97.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, July 28th. The medical research company reported $4.25 earnings per share for the quarter, topping the consensus estimate of $3.81 by $0.44. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.19 billion. Amgen had a return on equity of 91.98% and a net margin of 30.04%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.97 EPS. Research analysts expect that Amgen Inc. will post 15.66 EPS for the current year.

In related news, Director Ronald D. Sugar sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $241.02, for a total value of $241,020.00. Also, Director R Sanders Williams sold 250 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $242.95, for a total value of $60,737.50. Following the completion of the transaction, the director now owns 5,159 shares in the company, valued at approximately $1,253,379.05. 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 quarter. Company insiders own 0.36% of the company’s stock.

AMGN has been the subject of a number of recent research reports. SVB Leerink upped their price target on Amgen from $253.00 to $261.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Wells Fargo & Company increased their price objective on Amgen from $237.00 to $247.00 and gave the company an “in-line” rating in a report on Wednesday, July 29th. Credit Suisse Group reissued a “buy” rating on shares of Amgen in a report on Wednesday, July 29th. Sanford C. Bernstein downgraded Amgen from an “outperform” rating to a “market perform” rating in a report on Friday, October 9th. Finally, Oppenheimer increased their price objective on Amgen from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Tuesday, October 6th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $255.08.

Amgen 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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