Intech Investment Management LLC Buys 17,436 Shares of Amgen Inc. (NASDAQ:AMGN)

Intech Investment Management LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 48.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,109 shares of the medical research company’s stock after purchasing an additional 17,436 shares during the quarter. Intech Investment Management LLC’s holdings in Amgen were worth $16,594,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AMGN. United Community Bank bought a new position in Amgen in the fourth quarter valued at approximately $29,000. Horizon Financial Services LLC bought a new position in Amgen in the first quarter valued at approximately $28,000. nVerses Capital LLC bought a new position in Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC bought a new position in Amgen in the second quarter valued at approximately $33,000. Finally, FSA Wealth Management LLC boosted 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 worth $40,000 after purchasing an additional 91 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMGN shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Bank of America lifted their price target 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. Argus raised their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Finally, Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Eleven equities 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen Stock Performance

Shares of AMGN opened at $335.95 on Friday. The firm has a 50-day moving average of $329.44 and a 200-day moving average of $305.22. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a market cap of $180.22 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last announced 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the business earned $5.00 EPS. The business’s revenue was up 20.1% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, August 16th. 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.