Merriman Wealth Management LLC Has $585,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Merriman Wealth Management LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,873 shares of the medical research company’s stock after purchasing an additional 100 shares during the quarter. Merriman Wealth Management LLC’s holdings in Amgen were worth $585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors raised its position in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. Capital Wealth Planning LLC raised its holdings in shares of Amgen by 28,684.1% during the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after buying an additional 830,405 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after buying an additional 751,947 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research reports. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. TD Cowen lifted their price target on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Trading Up 0.4 %

Shares of Amgen stock opened at $337.38 on Friday. The firm has a market cap of $180.98 billion, a PE ratio of 48.20, a P/E/G ratio of 2.93 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a fifty day moving average price of $329.57 and a 200-day moving average price of $305.62.

Amgen (NASDAQ:AMGN) last posted 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the firm posted $5.00 EPS. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. Equities research analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.67%. Amgen’s payout ratio is 128.57%.

Amgen Profile

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.