High Falls Advisors Inc Raises Position in Amgen Inc. (NASDAQ:AMGN)

High Falls Advisors Inc lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,490 shares of the medical research company’s stock after buying an additional 100 shares during the quarter. High Falls Advisors Inc’s holdings in Amgen were worth $466,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Horizon Financial Services LLC purchased a new stake in shares of Amgen during the first quarter valued at approximately $28,000. nVerses Capital LLC acquired a new position in Amgen in the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen in the 2nd quarter valued at about $33,000. FSA Wealth Management LLC grew its stake in shares of Amgen by 182.0% during the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 91 shares in the last quarter. Finally, Western Pacific Wealth Management LP increased its position in shares of Amgen by 27.6% during the first quarter. Western Pacific Wealth Management LP now owns 162 shares of the medical research company’s stock worth $46,000 after acquiring an additional 35 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on AMGN. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. 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 report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research note on Thursday. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.55.

Amgen Stock Up 1.1 %

Amgen stock opened at $322.67 on Monday. The firm has a market capitalization of $173.09 billion, a P/E ratio of 46.10, a P/E/G ratio of 2.98 and a beta of 0.61. The company has a 50-day simple moving average of $328.77 and a 200-day simple moving average of $307.76. 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 announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.00 EPS. As a group, equities analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders 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 2.79%. Amgen’s payout ratio is 128.57%.

Amgen Company 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.