Strategic Financial Concepts LLC Takes $26,000 Position in Amgen Inc. (NASDAQ:AMGN)

Strategic Financial Concepts LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 84,336 shares of the medical research company’s stock, valued at approximately $26,000.

A number of other hedge funds also recently bought and sold shares of AMGN. United Community Bank purchased a new stake in shares of Amgen during the 4th quarter worth $29,000. Horizon Financial Services LLC purchased a new stake in shares of Amgen during the first quarter valued at about $28,000. nVerses Capital LLC bought a new stake in shares of Amgen in the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC purchased a new position in shares of Amgen in the 2nd quarter worth approximately $33,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of Amgen during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.3 %

Shares of NASDAQ:AMGN opened at $329.98 on Thursday. The company has a market capitalization of $177.01 billion, a PE ratio of 47.14, a PEG ratio of 2.85 and a beta of 0.61. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The business has a 50 day moving average of $327.34 and a two-hundred day moving average of $303.13. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last announced its quarterly 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period last year, the company posted $5.00 earnings per share. The business’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors 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 annualized dividend and a dividend yield of 2.73%. Amgen’s dividend payout ratio is presently 128.57%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Argus boosted their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Morgan Stanley decreased their price objective 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. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $327.28.

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.