Brown Financial Advisors Purchases Shares of 2,417 Amgen Inc. (NASDAQ:AMGN)

Brown Financial Advisors purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 2,417 shares of the medical research company’s stock, valued at approximately $755,000.

Several other institutional investors also recently bought and sold shares of the business. Grassi Investment Management purchased a new stake in shares of Amgen during the 1st quarter valued at $2,283,000. Public Employees Retirement System of Ohio grew its stake in shares of Amgen by 1.6% during the 4th 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 during the period. Meyer Handelman Co. grew its stake in shares of Amgen by 7.2% during the 2nd 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 during the period. Chicago Partners Investment Group LLC grew 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 valued at $1,388,000 after buying an additional 57 shares during the period. Finally, Novak & Powell Financial Services Inc. purchased a new stake in shares of Amgen during the 4th quarter valued at $803,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the subject of several research reports. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. TD Cowen upped their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating 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. Finally, Cantor Fitzgerald assumed coverage on shares of Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $325.55.

Amgen Stock Performance

Shares of AMGN stock opened at $320.32 on Wednesday. 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 firm has a market capitalization of $171.83 billion, a P/E ratio of 45.76, a P/E/G ratio of 2.98 and a beta of 0.61. The company’s fifty day moving average price is $328.23 and its two-hundred day moving average price is $308.48.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) 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% compared to the same quarter last year. During the same quarter last year, the company posted $5.00 EPS. On average, research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.81%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.