Godshalk Welsh Capital Management Inc. Grows Position in Amgen Inc. (NASDAQ:AMGN)

Godshalk Welsh Capital Management Inc. increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 14.4% during the second quarter, Holdings Channel reports. The institutional investor owned 995 shares of the medical research company’s stock after buying an additional 125 shares during the quarter. Godshalk Welsh Capital Management Inc.’s holdings in Amgen were worth $311,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen during the second quarter worth approximately $26,000. Horizon Financial Services LLC acquired a new position in Amgen in the first quarter valued at approximately $28,000. United Community Bank acquired a new position in Amgen in the fourth quarter valued at approximately $29,000. nVerses Capital LLC acquired a new position in Amgen in the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen in the second quarter valued at approximately $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.9 %

Shares of AMGN stock opened at $335.95 on Friday. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The stock has a market cap of $180.22 billion, a P/E ratio of 47.99, a P/E/G ratio of 2.93 and a beta of 0.61. The business has a fifty day simple moving average of $329.44 and a 200-day simple moving average of $305.22. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last posted 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). The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $5.00 EPS. On average, analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMGN. Bank of America upped their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Argus upped their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Morgan Stanley decreased their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. TD Cowen increased their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.