Pathway Financial Advisers LLC Increases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Pathway Financial Advisers LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,424 shares of the medical research company’s stock after acquiring an additional 257 shares during the period. Amgen makes up approximately 1.5% of Pathway Financial Advisers LLC’s holdings, making the stock its 16th largest holding. Pathway Financial Advisers LLC’s holdings in Amgen were worth $4,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the second quarter valued at $30,000. Horizon Financial Services LLC acquired a new stake in shares of Amgen during the first quarter valued at about $28,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the second quarter valued at about $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the second quarter worth about $33,000. Finally, FSA Wealth Management LLC lifted its stake in shares of Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.1 %

Amgen stock opened at $322.21 on Tuesday. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a market capitalization of $172.84 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The firm has a 50 day simple moving average of $328.49 and a 200-day simple moving average of $308.12.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders 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 2.79%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AMGN shares. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Morgan Stanley decreased their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average target price of $325.55.

Amgen Company 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.