Invst LLC Acquires Shares of 3,232 Amgen Inc. (NASDAQ:AMGN)

Invst LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 3,232 shares of the medical research company’s stock, valued at approximately $1,005,000.

A number of other large investors also recently made changes to their positions in AMGN. Horizon Financial Services LLC bought a new position in Amgen during the 1st quarter worth approximately $28,000. nVerses Capital LLC bought a new position in shares of Amgen during the second quarter worth $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the second quarter worth $33,000. FSA Wealth Management LLC grew its holdings in shares of Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares during the period. Finally, Western Pacific Wealth Management LP increased its position in shares of Amgen by 27.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 162 shares of the medical research company’s stock valued at $46,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMGN. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Morgan Stanley cut their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.55.

Amgen Trading Up 1.1 %

NASDAQ AMGN opened at $322.67 on Monday. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a 50 day moving average of $328.77 and a 200-day moving average of $307.76. The company has a market cap of $173.09 billion, a PE ratio of 46.10, a PEG ratio of 2.98 and a beta of 0.61.

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 analysts’ consensus estimates 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%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.00 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. 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 (DPR) is presently 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.