Drucker Wealth 3.0 LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Drucker Wealth 3.0 LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,137 shares of the medical research company’s stock, valued at approximately $3,167,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at approximately $26,000. Horizon Financial Services LLC purchased a new position in Amgen in the 1st quarter valued at approximately $28,000. United Community Bank acquired a new position in Amgen during the fourth quarter worth $29,000. nVerses Capital LLC purchased a new stake in Amgen during the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen in the second quarter valued at $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $312.86 on Thursday. The firm has a market capitalization of $168.11 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The company has a 50 day moving average price of $329.63 and a 200 day moving average price of $306.87. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. 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 (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $8.35 billion. During the same period last year, the business posted $5.00 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Several research firms recently commented on AMGN. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Morgan Stanley reduced their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen upped their target price on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average price target of $321.37.

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.