Bridges Investment Management Inc. Has $29.53 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Bridges Investment Management Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 207.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,503 shares of the medical research company’s stock after purchasing an additional 63,804 shares during the period. Bridges Investment Management Inc.’s holdings in Amgen were worth $29,527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Godshalk Welsh Capital Management Inc. raised its holdings in shares of Amgen by 14.4% during the second quarter. Godshalk Welsh Capital Management Inc. now owns 995 shares of the medical research company’s stock valued at $311,000 after purchasing an additional 125 shares during the period. Joseph Group Capital Management raised its holdings in shares of Amgen by 11.7% in the 2nd quarter. Joseph Group Capital Management now owns 7,464 shares of the medical research company’s stock worth $2,332,000 after acquiring an additional 782 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Amgen by 12.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 6,479 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 694 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Amgen by 14.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 42,959 shares of the medical research company’s stock worth $13,422,000 after acquiring an additional 5,377 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Amgen by 7.8% in the 2nd quarter. Ieq Capital LLC now owns 51,921 shares of the medical research company’s stock worth $16,222,000 after acquiring an additional 3,757 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMGN. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Argus upped their target price on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Finally, TD Cowen upped 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. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Stock Up 0.9 %

Amgen stock opened at $335.95 on Friday. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The firm has a 50 day moving average price of $329.44 and a 200-day moving average price of $305.22. The company has a market capitalization of $180.22 billion, a P/E ratio of 47.99, a P/E/G ratio of 2.93 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $8.35 billion. During the same period in the prior year, the company earned $5.00 earnings per share. The firm’s revenue was up 20.1% on a year-over-year basis. As a group, equities analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm 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 of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 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.