Frank Rimerman Advisors LLC Has $4.23 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Frank Rimerman Advisors LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 6,476.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,547 shares of the medical research company’s stock after purchasing an additional 13,341 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Amgen were worth $4,233,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Keynote Financial Services LLC raised its position in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after buying an additional 30 shares in the last quarter. RFP Financial Group LLC raised its holdings in Amgen by 17.1% in the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 32 shares in the last quarter. Hofer & Associates. Inc lifted its position in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after acquiring an additional 32 shares during the period. Blossom Wealth Management grew its holdings in shares of Amgen by 3.3% during the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after purchasing an additional 33 shares in the last quarter. Finally, Legacy Capital Group California Inc. increased its position in shares of Amgen by 1.1% in the second quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock worth $955,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AMGN shares. Royal Bank of Canada increased their price objective on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Argus raised 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. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen Trading Up 0.4 %

Shares of NASDAQ AMGN opened at $337.38 on Friday. The firm has a 50 day moving average price of $329.57 and a two-hundred day moving average price of $305.82. The stock has a market cap of $180.98 billion, a P/E ratio of 48.20, 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. 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 (NASDAQ:AMGN) last posted its quarterly earnings data 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). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.00 earnings per share. As a group, equities analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. 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 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.