Bank of Montreal Can Purchases 73,041 Shares of Amgen Inc. (NASDAQ:AMGN)

Bank of Montreal Can boosted its position in Amgen Inc. (NASDAQ:AMGN) by 6.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,295,602 shares of the medical research company’s stock after purchasing an additional 73,041 shares during the quarter. Bank of Montreal Can owned about 0.24% of Amgen worth $414,813,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on AMGN shares. Morgan Stanley dropped their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Argus upped 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. Royal Bank of Canada raised their price objective on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, TD Cowen boosted their target price on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average price target of $327.28.

Amgen Stock Up 0.4 %

Shares of Amgen stock opened at $337.38 on Monday. The stock’s 50-day moving average is $329.57 and its 200 day moving average is $306.03. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The firm has a market cap of $180.98 billion, a price-to-earnings ratio of 48.20, a PEG ratio of 2.93 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.00 earnings per share. Equities research analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid 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 dividend payout ratio (DPR) is currently 128.57%.

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.