Founders Financial Alliance LLC Has $802,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Founders Financial Alliance LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 3.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,568 shares of the medical research company’s stock after buying an additional 84 shares during the quarter. Founders Financial Alliance LLC’s holdings in Amgen were worth $802,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Grassi Investment Management acquired a new position in Amgen during the first quarter worth $2,283,000. Public Employees Retirement System of Ohio lifted its stake in 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 acquiring an additional 4,376 shares during the last quarter. Meyer Handelman Co. lifted its stake in 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 acquiring an additional 8,700 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Amgen by 1.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock valued at $1,388,000 after acquiring an additional 57 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. acquired a new stake in Amgen in the fourth quarter valued at $803,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reaffirmed 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. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Morgan Stanley lowered their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $325.55.

Amgen Stock Performance

Shares of Amgen stock opened at $322.21 on Tuesday. 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 Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The stock has a market cap of $172.84 billion, a price-to-earnings ratio of 46.03, a P/E/G ratio of 2.98 and a beta of 0.61. The company’s fifty day moving average is $328.49 and its 200 day moving average is $308.12.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business 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 earned $5.00 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.79%. Amgen’s payout ratio is 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.