Amgen Inc. (NASDAQ:AMGN) Shares Bought by Angeles Wealth Management LLC

Angeles Wealth Management LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 828 shares of the medical research company’s stock after buying an additional 91 shares during the period. Angeles Wealth Management LLC’s holdings in Amgen were worth $259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TCW Group Inc. raised its holdings in Amgen by 25.1% during the 4th quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock worth $50,376,000 after buying an additional 35,040 shares during the period. Grassi Investment Management acquired a new stake in Amgen during the 1st quarter worth about $2,283,000. Public Employees Retirement System of Ohio raised its holdings in 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 worth $81,161,000 after buying an additional 4,376 shares during the period. Meyer Handelman Co. raised its holdings in Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after buying an additional 8,700 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in 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 worth $1,388,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on AMGN shares. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada upped their target price on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Bank of America upped their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Trading Up 0.3 %

Shares of AMGN stock opened at $329.98 on Thursday. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The business’s 50 day moving average is $327.34 and its two-hundred day moving average is $303.13. The company has a market cap of $177.01 billion, a PE ratio of 47.14, a price-to-earnings-growth ratio of 2.85 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the business earned $5.00 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared 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. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.73%. Amgen’s dividend payout ratio (DPR) is presently 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.