2,706 Shares in Amgen Inc. (NASDAQ:AMGN) Acquired by Seven Eight Capital LP

Seven Eight Capital LP acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 2,706 shares of the medical research company’s stock, valued at approximately $845,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. United Community Bank purchased a new stake in Amgen in the 4th quarter worth $29,000. Horizon Financial Services LLC bought a new position in Amgen during the first quarter valued at approximately $28,000. nVerses Capital LLC purchased a new position in Amgen during the 2nd quarter valued at approximately $31,000. Bbjs Financial Advisors LLC bought a new stake in Amgen in the 2nd quarter worth approximately $33,000. Finally, FSA Wealth Management LLC raised its holdings in shares of Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMGN shares. Argus raised their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Morgan Stanley reduced their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Eleven research 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, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $337.38 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The firm has a market cap of $180.98 billion, a PE ratio of 48.20, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61. The firm’s 50 day simple moving average is $329.57 and its 200-day simple moving average is $305.62. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share 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 firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the firm earned $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) 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.