Ascent Group LLC Boosts Position in Amgen Inc. (NASDAQ:AMGN)

Ascent Group LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,949 shares of the medical research company’s stock after acquiring an additional 31 shares during the period. Ascent Group LLC’s holdings in Amgen were worth $3,421,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Strategic Financial Concepts LLC purchased a new stake in Amgen in the 2nd quarter valued at about $26,000. Horizon Financial Services LLC purchased a new stake in Amgen in the 1st quarter valued at about $28,000. United Community Bank purchased a new stake in Amgen in the 4th quarter valued at about $29,000. nVerses Capital LLC acquired a new position in Amgen in the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $322.67 on Friday. 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 52-week low of $249.70 and a 52-week high of $346.85. The stock has a 50 day moving average price of $328.77 and a 200 day moving average price of $307.54. The company has a market capitalization of $173.09 billion, a price-to-earnings ratio of 46.10, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the prior year, the firm posted $5.00 EPS. Amgen’s quarterly revenue was up 20.1% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed 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 2.79%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AMGN shares. Bank of America lifted their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Jefferies Financial Group reissued 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, Argus boosted their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average target price of $325.55.

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.