Private Advisor Group LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN – Get Rating) by 16.7% in the second quarter, HoldingsChannel reports. The firm owned 64,413 shares of the medical research company’s stock after acquiring an additional 9,239 shares during the period. Private Advisor Group LLC’s holdings in Amgen were worth $15,672,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in AMGN. Rational Advisors LLC bought a new stake in shares of Amgen in the 1st quarter valued at $26,000. Landmark Wealth Management LLC bought a new stake in shares of Amgen in the first quarter worth about $28,000. CKW Financial Group acquired a new stake in shares of Amgen during the first quarter worth about $31,000. Baltimore Washington Financial Advisors Inc. bought a new position in shares of Amgen during the 4th quarter valued at about $33,000. Finally, Lumature Wealth Partners LLC grew its position in shares of Amgen by 51.1% in the 1st quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 77.14% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have weighed in on AMGN. Oppenheimer reaffirmed an “outperform” rating and issued a $290.00 price target on shares of Amgen in a research note on Wednesday, September 14th. Piper Sandler boosted their price objective on shares of Amgen from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 8th. Royal Bank of Canada upped their price objective on Amgen from $224.00 to $236.00 in a research report on Friday, August 5th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $185.00 target price on shares of Amgen in a research report on Tuesday, September 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $241.13.
Insider Activity at Amgen
Amgen Price Performance
Shares of AMGN opened at $224.46 on Thursday. The company has a market cap of $120.07 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 1.86 and a beta of 0.56. The company has a current ratio of 1.53, a quick ratio of 1.17 and a debt-to-equity ratio of 14.76. The company’s fifty day simple moving average is $243.76 and its 200 day simple moving average is $243.39. Amgen Inc. has a 1-year low of $198.64 and a 1-year high of $258.45.
Amgen (NASDAQ:AMGN – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The medical research company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.25. Amgen had a net margin of 24.92% and a return on equity of 218.34%. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same period in the previous year, the business earned $4.38 EPS. Amgen’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts forecast that Amgen Inc. will post 17.45 earnings per share for the current fiscal year.
Amgen Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were issued a dividend of $1.94 per share. This represents a $7.76 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Wednesday, August 17th. Amgen’s payout ratio is presently 65.76%.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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