Summit Trail Advisors LLC Has $1.68 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Summit Trail Advisors LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,389 shares of the medical research company’s stock after acquiring an additional 231 shares during the quarter. Summit Trail Advisors LLC’s holdings in Amgen were worth $1,684,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Keynote Financial Services LLC increased its holdings in Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the last quarter. RFP Financial Group LLC increased its holdings in Amgen by 17.1% in the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the last quarter. Hofer & Associates. Inc increased its holdings in Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the last quarter. Blossom Wealth Management increased its holdings in Amgen by 3.3% in the second quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock valued at $320,000 after purchasing an additional 33 shares during the last quarter. Finally, Legacy Capital Group California Inc. increased its holdings in Amgen by 1.1% in the second quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock valued at $955,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 0.4 %

AMGN stock opened at $337.38 on Friday. The business has a 50-day moving average of $329.57 and a 200-day moving average of $305.82. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week 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 market capitalization of $180.98 billion, a P/E ratio of 48.20, a P/E/G ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period last year, the company posted $5.00 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given 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 yield of 2.67%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMGN. Bank of America upped 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. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada increased their price target on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Argus increased their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $327.28.

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.