Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Distillate Capital Partners LLC

Distillate Capital Partners LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 266,647.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,034 shares of the medical research company’s stock after purchasing an additional 111,992 shares during the period. Amgen accounts for about 1.9% of Distillate Capital Partners LLC’s investment portfolio, making the stock its 7th largest position. Distillate Capital Partners LLC’s holdings in Amgen were worth $35,005,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Aveo Capital Partners LLC lifted its position in Amgen by 19.9% during the fourth quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock worth $786,000 after buying an additional 453 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of Amgen by 295.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock worth $1,021,000 after acquiring an additional 2,752 shares during the period. Cape Investment Advisory Inc. boosted its position in shares of Amgen by 4.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 746 shares of the medical research company’s stock worth $215,000 after acquiring an additional 35 shares during the last quarter. Hilltop Holdings Inc. grew its holdings in Amgen by 53.0% in the fourth quarter. Hilltop Holdings Inc. now owns 6,921 shares of the medical research company’s stock valued at $1,993,000 after purchasing an additional 2,397 shares during the period. Finally, Mitchell Sinkler & Starr PA grew its holdings in Amgen by 26.0% in the fourth quarter. Mitchell Sinkler & Starr PA now owns 2,905 shares of the medical research company’s stock valued at $837,000 after purchasing an additional 600 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. TD Cowen boosted their target price on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Bank of America increased their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report 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

Amgen stock opened at $335.61 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a 50 day moving average of $329.68 and a 200-day moving average of $306.47. The stock has a market cap of $180.03 billion, a P/E ratio of 47.94, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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). 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%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company earned $5.00 earnings per share. On average, analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.68%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 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.