Wescott Financial Advisory Group LLC Invests $201,000 in Amgen Inc. (NASDAQ:AMGN)

Wescott Financial Advisory Group LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 644 shares of the medical research company’s stock, valued at approximately $201,000.

Other large investors have also added to or reduced their stakes in the company. Insigneo Advisory Services LLC raised its position in Amgen by 31.7% in the 2nd quarter. Insigneo Advisory Services LLC now owns 3,864 shares of the medical research company’s stock valued at $1,257,000 after buying an additional 930 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Amgen by 60.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 102,649 shares of the medical research company’s stock worth $32,073,000 after purchasing an additional 38,537 shares during the last quarter. Strata Wealth Advisors LLC purchased a new position in shares of Amgen in the 2nd quarter worth approximately $287,000. Distillate Capital Partners LLC grew its holdings in shares of Amgen by 266,647.6% in the second quarter. Distillate Capital Partners LLC now owns 112,034 shares of the medical research company’s stock valued at $35,005,000 after acquiring an additional 111,992 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC lifted its holdings in Amgen by 12.0% during the second quarter. Mill Creek Capital Advisors LLC now owns 4,115 shares of the medical research company’s stock worth $1,286,000 after acquiring an additional 442 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $330.92 on Wednesday. The company’s 50-day moving average is $329.63 and its 200 day moving average is $306.87. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a market capitalization of $177.52 billion, a P/E ratio of 47.27, a P/E/G ratio of 2.93 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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). 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 quarter last year, the company posted $5.00 EPS. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, sell-side analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.72%. Amgen’s payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen raised their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating 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 issued a strong buy rating to the company. According to MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

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.