Evergreen Capital Management LLC Purchases 225 Shares of Amgen Inc. (NASDAQ:AMGN)

Evergreen Capital Management LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.5% in the second quarter, HoldingsChannel.com reports. The fund owned 9,057 shares of the medical research company’s stock after purchasing an additional 225 shares during the period. Evergreen Capital Management LLC’s holdings in Amgen were worth $2,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. United Community Bank bought a new stake in Amgen in the fourth quarter worth $29,000. Horizon Financial Services LLC purchased a new position in shares of Amgen in the 1st quarter valued at approximately $28,000. nVerses Capital LLC bought a new stake in shares of Amgen during the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new stake in Amgen in the second quarter worth $33,000. Finally, FSA Wealth Management LLC raised its holdings in Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $335.61 on Tuesday. The company has a 50 day simple moving average of $329.68 and a two-hundred day simple moving average of $306.47. The stock has a market cap of $180.03 billion, a price-to-earnings ratio of 47.94, a PEG ratio of 2.93 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its 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 analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business earned $5.00 EPS. As a group, analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMGN. Royal Bank of Canada boosted their price objective on shares of 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 restated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average 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.