MGO One Seven LLC Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

MGO One Seven LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 17.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,113 shares of the medical research company’s stock after purchasing an additional 1,061 shares during the period. MGO One Seven LLC’s holdings in Amgen were worth $2,223,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in shares of Amgen in the 2nd quarter worth $26,000. Horizon Financial Services LLC purchased a new position in Amgen in the first quarter worth about $28,000. United Community Bank bought a new stake in shares of Amgen during the 4th quarter valued at about $29,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $329.98 on Thursday. The company has a market cap of $177.01 billion, a P/E ratio of 47.14, a P/E/G ratio of 2.85 and a beta of 0.61. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. 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’s fifty day moving average is $327.34 and its two-hundred day moving average is $303.13.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) 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 firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the firm posted $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.73%. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

A number of analysts have commented on AMGN shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada upped their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Argus boosted their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.28.

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.