Magnolia Capital Advisors LLC Invests $486,000 in Amgen Inc. (NASDAQ:AMGN)

Magnolia Capital Advisors LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,556 shares of the medical research company’s stock, valued at approximately $486,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Horizon Financial Services LLC purchased a new stake in Amgen in the 1st quarter worth $28,000. nVerses Capital LLC purchased a new stake in Amgen in the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC purchased a new stake in Amgen in the 2nd quarter worth $33,000. FSA Wealth Management LLC grew its position in shares of Amgen by 182.0% during the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 91 shares in the last quarter. Finally, Western Pacific Wealth Management LP grew its position in shares of Amgen by 27.6% during the first quarter. Western Pacific Wealth Management LP now owns 162 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 35 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Amgen stock opened at $322.21 on Tuesday. The company has a market capitalization of $172.84 billion, a PE ratio of 46.03, a P/E/G ratio of 2.98 and a beta of 0.61. The company has a 50 day moving average price of $328.49 and a 200-day moving average price of $308.12. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (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 business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the previous year, the business earned $5.00 earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, equities analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMGN. 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 report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $325.55.

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.