Fairscale Capital LLC Makes New $319,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Fairscale Capital LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 959 shares of the medical research company’s stock, valued at approximately $319,000.

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

Analyst Ratings Changes

A number of research firms have recently commented on AMGN. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. 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 report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Finally, Argus boosted their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Trading Up 0.4 %

AMGN stock opened at $337.38 on Friday. 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 market capitalization of $180.98 billion, a price-to-earnings ratio of 48.20, a P/E/G ratio of 2.93 and a beta of 0.61. The business has a fifty day moving average price of $329.57 and a 200 day moving average price of $305.82. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. During the same period last year, the company earned $5.00 earnings per share. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. Analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal 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 paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.67%. 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.