Fairscale Capital LLC Takes $319,000 Position in Amgen Inc. (NASDAQ:AMGN)

Fairscale Capital LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, Holdings Channel reports. The fund purchased 959 shares of the medical research company’s stock, valued at approximately $319,000.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Capital International Investors lifted its position in shares of Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after buying an additional 5,923,915 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. Capital Wealth Planning LLC boosted its stake in Amgen by 28,684.1% in the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after purchasing an additional 830,405 shares during the period. Finally, Royal Bank of Canada grew its holdings in Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after buying an additional 751,947 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $337.38 on Friday. The company has a market capitalization of $180.98 billion, a PE ratio of 48.20, a P/E/G ratio of 2.93 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a 50-day moving average price of $329.57 and a two-hundred day moving average price of $305.82. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the prior year, the firm earned $5.00 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. Analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is presently 128.57%.

Analyst Ratings Changes

AMGN has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Argus lifted their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research note 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’s stock. According to data from MarketBeat.com, 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.