Invst LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 3,232 shares of the medical research company’s stock, valued at approximately $1,005,000.
A number of other large investors also recently made changes to their positions in AMGN. Horizon Financial Services LLC bought a new position in Amgen during the 1st quarter worth approximately $28,000. nVerses Capital LLC bought a new position in shares of Amgen during the second quarter worth $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the second quarter worth $33,000. FSA Wealth Management LLC grew its holdings in shares of Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares during the period. Finally, Western Pacific Wealth Management LP increased its position in shares of Amgen by 27.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 162 shares of the medical research company’s stock valued at $46,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on AMGN. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Morgan Stanley cut their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.55.
Amgen Trading Up 1.1 %
NASDAQ AMGN opened at $322.67 on Monday. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a 50 day moving average of $328.77 and a 200-day moving average of $307.76. The company has a market cap of $173.09 billion, a PE ratio of 46.10, a PEG ratio of 2.98 and a beta of 0.61.
Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.00 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.
Amgen Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.
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.
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