Intech Investment Management LLC Buys 17,436 Shares of Amgen Inc. (NASDAQ:AMGN)

Intech Investment Management LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 48.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,109 shares of the medical research company’s stock after purchasing an additional 17,436 shares during the period. Intech Investment Management LLC’s holdings in Amgen were worth $16,594,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. United Community Bank bought a new stake in Amgen in the 4th quarter valued at about $29,000. Horizon Financial Services LLC bought a new stake in Amgen in the 1st quarter valued at about $28,000. nVerses Capital LLC bought a new stake in Amgen in the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter valued at approximately $33,000. Finally, FSA Wealth Management LLC raised its position in shares of Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on AMGN shares. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. TD Cowen boosted their target price on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley lowered their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Trading Up 0.9 %

NASDAQ:AMGN opened at $335.95 on Friday. The firm’s fifty day moving average is $329.44 and its 200-day moving average is $305.22. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The firm 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.

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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm 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 company posted $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. Equities analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

About Amgen

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.