Waterloo Capital L.P. Makes New $231,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Waterloo Capital L.P. bought a new position in Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 738 shares of the medical research company’s stock, valued at approximately $231,000.

A number of other large investors also recently modified their holdings of AMGN. Aveo Capital Partners LLC increased its stake in shares of Amgen by 19.9% in the 4th quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after buying an additional 453 shares during the period. Gryphon Financial Partners LLC increased its position in Amgen by 295.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock worth $1,021,000 after purchasing an additional 2,752 shares during the period. Clearbridge Investments LLC raised its holdings in Amgen by 2.5% during the 4th quarter. Clearbridge Investments LLC now owns 103,117 shares of the medical research company’s stock worth $29,700,000 after purchasing an additional 2,552 shares during the last quarter. Quest Partners LLC acquired a new position in Amgen during the 4th quarter valued at about $698,000. Finally, Balboa Wealth Partners boosted its stake in shares of Amgen by 40.8% in the 4th quarter. Balboa Wealth Partners now owns 1,332 shares of the medical research company’s stock valued at $384,000 after purchasing an additional 386 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Argus increased their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen Price Performance

Shares of 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. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The stock has a market capitalization of $180.22 billion, a P/E ratio of 47.99, a P/E/G ratio of 2.93 and a beta of 0.61. The company has a 50 day moving average of $329.44 and a 200-day moving average of $305.22.

Amgen (NASDAQ:AMGN) last issued its quarterly 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the firm posted $5.00 earnings per share. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, equities research analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders 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 dividend on an annualized basis and a yield of 2.68%. Amgen’s dividend 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.