Godshalk Welsh Capital Management Inc. Grows Position in Amgen Inc. (NASDAQ:AMGN)

Godshalk Welsh Capital Management Inc. increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 14.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 995 shares of the medical research company’s stock after acquiring an additional 125 shares during the quarter. Godshalk Welsh Capital Management Inc.’s holdings in Amgen were worth $311,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. United Community Bank purchased a new stake in Amgen in the fourth quarter worth about $29,000. Horizon Financial Services LLC purchased a new stake in Amgen in the first quarter worth about $28,000. nVerses Capital LLC purchased a new stake in Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the second quarter valued at about $33,000. Finally, FSA Wealth Management LLC boosted 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 in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, TD Cowen lifted their target price on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $327.28.

Amgen Trading Up 0.9 %

Shares of AMGN opened at $335.95 on Friday. 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’s fifty day moving average is $329.44 and its two-hundred day moving average is $305.22. The stock has a market cap of $180.22 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business 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 revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned $5.00 EPS. Research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.68%. Amgen’s dividend payout ratio (DPR) is currently 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.