Heritage Wealth Management Inc. Takes Position in Amgen Inc. (NASDAQ:AMGN)

Heritage Wealth Management Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,721 shares of the medical research company’s stock, valued at approximately $846,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen in the second quarter valued at about $26,000. Horizon Financial Services LLC purchased a new stake in Amgen during the first quarter worth about $28,000. Hershey Financial Advisers LLC purchased a new stake in Amgen during the second quarter worth about $30,000. nVerses Capital LLC purchased a new stake in Amgen during the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen during the second quarter worth about $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Argus increased their target price on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. TD Cowen increased their target price 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. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $325.55.

Amgen Stock Down 0.6 %

Shares of NASDAQ AMGN opened at $320.32 on Wednesday. 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 firm’s fifty day moving average is $328.23 and its 200 day moving average is $308.48. The company has a market cap of $171.83 billion, a price-to-earnings ratio of 45.76, a PEG ratio of 2.98 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its 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 analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.00 earnings per share. On average, equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

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.