KPP Advisory Services LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,802 shares of the medical research company’s stock after acquiring an additional 104 shares during the period. KPP Advisory Services LLC’s holdings in Amgen were worth $875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Keynote Financial Services LLC increased its stake in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares in the last quarter. Ascent Group LLC increased its stake in Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares in the last quarter. RFP Financial Group LLC raised its holdings in Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 32 shares during the period. Hofer & Associates. Inc lifted its position in shares of Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after acquiring an additional 32 shares in the last quarter. Finally, Blossom Wealth Management boosted its stake in shares of Amgen by 3.3% in the second quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after acquiring an additional 33 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on AMGN. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.55.
Amgen Stock Down 0.1 %
AMGN stock opened at $322.21 on Tuesday. The stock has a market capitalization of $172.84 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm has a 50 day moving average of $328.49 and a 200 day moving average of $308.12.
Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.00 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.
Amgen Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.79%. Amgen’s payout ratio is presently 128.57%.
Amgen 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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