SS&H Financial Advisors Inc. Has $3.70 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

SS&H Financial Advisors Inc. grew its position in Amgen Inc. (NASDAQ:AMGN) by 12.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,830 shares of the medical research company’s stock after buying an additional 1,350 shares during the quarter. Amgen makes up approximately 1.4% of SS&H Financial Advisors Inc.’s portfolio, making the stock its 16th largest position. SS&H Financial Advisors Inc.’s holdings in Amgen were worth $3,696,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the second quarter worth about $26,000. Horizon Financial Services LLC acquired a new position in shares of Amgen in the first quarter worth about $28,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the second quarter worth about $30,000. nVerses Capital LLC acquired a new position in shares of Amgen in the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the second quarter worth about $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMGN shares. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Morgan Stanley reduced their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Bank of America increased their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald started coverage on shares of Amgen in a research report on Friday, September 27th. They issued an “overweight” rating and a $405.00 price target for the company. Finally, Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. 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 given a strong buy rating to the company. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.55.

Amgen Trading Down 0.6 %

NASDAQ:AMGN opened at $320.32 on Wednesday. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The firm has a market cap of $171.83 billion, a price-to-earnings ratio of 45.76, a P/E/G ratio of 2.98 and a beta of 0.61. 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 company’s 50 day moving average is $328.23 and its 200-day moving average is $308.48.

Amgen (NASDAQ:AMGN) last released 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 the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business earned $5.00 EPS. Equities analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.81%. Amgen’s payout ratio is 128.57%.

About Amgen

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.