Lighthouse Investment Partners LLC Acquires New Shares in Amgen Inc. (NASDAQ:AMGN)

Lighthouse Investment Partners LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 48,504 shares of the medical research company’s stock, valued at approximately $15,155,000. Amgen makes up about 0.6% of Lighthouse Investment Partners LLC’s holdings, making the stock its 29th biggest holding.

Several other large investors have also bought and sold shares of the business. Aveo Capital Partners LLC boosted its stake in shares of Amgen by 19.9% during the fourth quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after purchasing an additional 453 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in shares of Amgen by 295.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock valued at $1,021,000 after purchasing an additional 2,752 shares in the last quarter. Focus Financial Network Inc. ADV acquired a new stake in shares of Amgen during the fourth quarter valued at about $1,989,000. Catalytic Wealth RIA LLC acquired a new stake in shares of Amgen during the fourth quarter valued at about $272,000. Finally, Avestar Capital LLC boosted its stake in shares of Amgen by 58.8% during the fourth quarter. Avestar Capital LLC now owns 2,052 shares of the medical research company’s stock valued at $591,000 after purchasing an additional 760 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 2.0 %

Shares of NASDAQ:AMGN opened at $319.10 on Friday. The stock has a market cap of $171.18 billion, a price-to-earnings ratio of 45.59, a PEG ratio of 2.98 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 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. The business’s 50 day moving average is $328.94 and its 200 day moving average is $307.00.

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 the consensus estimate of $5.01 by ($0.04). The company 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 firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.00 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.82%. Amgen’s dividend payout ratio is currently 128.57%.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent research reports. Oppenheimer reissued an “outperform” rating and set a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. TD Cowen raised their price objective on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research report on Thursday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus 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.