Bradley Foster & Sargent Inc. CT Increases Position in Amgen Inc. (NASDAQ:AMGN)

Bradley Foster & Sargent Inc. CT grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,243 shares of the medical research company’s stock after buying an additional 424 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Amgen were worth $5,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. Strategic Financial Concepts LLC purchased a new position in Amgen during the second quarter worth about $26,000. Horizon Financial Services LLC purchased a new position in Amgen during the first quarter worth about $28,000. United Community Bank purchased a new position in Amgen during the fourth quarter worth about $29,000. nVerses Capital LLC purchased a new position in Amgen during the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Amgen during the second quarter worth about $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the subject of several analyst reports. Oppenheimer reissued an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Bank of America increased their target price on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada increased their target price on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Stock Performance

Shares of AMGN stock opened at $332.92 on Thursday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The firm has a market capitalization of $178.59 billion, a price-to-earnings ratio of 47.56, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a 50 day moving average price of $329.22 and a 200 day moving average price of $305.00.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 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 analyst estimates of $8.35 billion. During the same quarter in the previous year, the company earned $5.00 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Sell-side analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared 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 of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.70%. Amgen’s payout ratio is 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.