Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Ranch Capital Advisors Inc.

Ranch Capital Advisors Inc. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,931 shares of the medical research company’s stock after acquiring an additional 52 shares during the period. Amgen makes up about 1.3% of Ranch Capital Advisors Inc.’s holdings, making the stock its 19th largest holding. Ranch Capital Advisors Inc.’s holdings in Amgen were worth $2,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new position in Amgen in the second quarter valued at approximately $26,000. Horizon Financial Services LLC purchased a new position in shares of Amgen during the first quarter worth about $28,000. United Community Bank purchased a new stake in Amgen during the 4th quarter valued at approximately $29,000. nVerses Capital LLC purchased a new position in shares of Amgen in the 2nd quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on AMGN shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America upped their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada lifted their price target on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Argus upped their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Trading Up 0.9 %

Shares of NASDAQ AMGN opened at $335.95 on Friday. 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 stock has a market capitalization of $180.22 billion, a P/E ratio of 47.99, a PEG ratio of 2.93 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 stock’s 50 day moving average price is $329.44 and its two-hundred day moving average price is $305.22.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the prior year, the firm earned $5.00 EPS. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Friday, August 16th. 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.