Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Resources Management Corp CT ADV

Resources Management Corp CT ADV grew its stake in Amgen Inc. (NASDAQ:AMGN) by 6.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,650 shares of the medical research company’s stock after purchasing an additional 270 shares during the period. Resources Management Corp CT ADV’s holdings in Amgen were worth $1,453,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AMGN. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $26,000. Horizon Financial Services LLC acquired a new position in shares of Amgen in the 1st quarter valued at $28,000. United Community Bank acquired a new position in shares of Amgen in the 4th quarter valued at $29,000. nVerses Capital LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AMGN. Bank of America upped their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada upped their price target on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Morgan Stanley reduced their price target 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. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Stock Performance

Shares of AMGN opened at $335.61 on Tuesday. The company has a 50-day simple moving average of $329.68 and a 200-day simple moving average of $306.47. 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 company has a market capitalization of $180.03 billion, a PE ratio of 47.94, a P/E/G ratio of 2.93 and a beta of 0.61. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85.

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). The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $5.00 EPS. Equities research analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.68%. 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.