Amgen Inc. (NASDAQ:AMGN) Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 33.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,241 shares of the medical research company’s stock after acquiring an additional 4,789 shares during the quarter. AE Wealth Management LLC’s holdings in Amgen were worth $6,012,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Grassi Investment Management purchased a new position in shares of Amgen in the 1st quarter valued at about $2,283,000. Public Employees Retirement System of Ohio increased its position in shares of Amgen by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock valued at $81,161,000 after buying an additional 4,376 shares in the last quarter. Meyer Handelman Co. increased its position in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after buying an additional 8,700 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Amgen by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock worth $1,388,000 after buying an additional 57 shares during the period. Finally, Novak & Powell Financial Services Inc. purchased a new position in shares of Amgen during the 4th quarter valued at approximately $803,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.4 %

AMGN opened at $337.38 on Friday. The stock has a market capitalization of $180.98 billion, a PE ratio of 48.20, a P/E/G ratio of 2.93 and a beta of 0.61. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The business’s 50 day moving average price is $329.57 and its 200 day moving average price is $305.82.

Amgen (NASDAQ:AMGN) last posted its earnings results 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 business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.00 EPS. As a group, equities research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Argus increased their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, TD Cowen boosted their price target on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $327.28.

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.