Marathon Capital Management Purchases 275 Shares of Amgen Inc. (NASDAQ:AMGN)

Marathon Capital Management lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 30.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,188 shares of the medical research company’s stock after purchasing an additional 275 shares during the period. Marathon Capital Management’s holdings in Amgen were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in AMGN. Aveo Capital Partners LLC increased its stake in shares of Amgen by 19.9% during the fourth quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock worth $786,000 after purchasing an additional 453 shares during the period. Gryphon Financial Partners LLC increased its stake in Amgen by 295.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock worth $1,021,000 after acquiring an additional 2,752 shares during the period. Focus Financial Network Inc. ADV bought a new position in Amgen during the 4th quarter worth $1,989,000. Catalytic Wealth RIA LLC bought a new position in Amgen during the 4th quarter worth $272,000. Finally, Avestar Capital LLC increased its stake in Amgen by 58.8% during the 4th quarter. Avestar Capital LLC now owns 2,052 shares of the medical research company’s stock worth $591,000 after acquiring an additional 760 shares during the period. 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. Argus raised their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. 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. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research note on Thursday. Finally, Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $321.37.

Amgen Trading Up 2.0 %

NASDAQ AMGN opened at $319.10 on Friday. 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 company has a market cap of $171.18 billion, a price-to-earnings ratio of 45.59, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The business’s fifty day moving average is $328.94 and its 200 day moving average is $307.00.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.00 earnings per share. As a group, sell-side analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio 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.