Penn Davis Mcfarland Inc. Grows Stake in Amgen Inc. (NASDAQ:AMGN)

Penn Davis Mcfarland Inc. boosted its position in Amgen Inc. (NASDAQ:AMGN) by 1,176.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,150 shares of the medical research company’s stock after acquiring an additional 17,650 shares during the quarter. Penn Davis Mcfarland Inc.’s holdings in Amgen were worth $6,170,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. AdvisorNet Financial Inc boosted its stake in Amgen by 5.7% in the first quarter. AdvisorNet Financial Inc now owns 2,206 shares of the medical research company’s stock valued at $627,000 after acquiring an additional 119 shares during the period. Austin Private Wealth LLC boosted its position in Amgen by 4.3% during the 1st quarter. Austin Private Wealth LLC now owns 1,023 shares of the medical research company’s stock valued at $281,000 after purchasing an additional 42 shares during the period. Annex Advisory Services LLC grew its stake in Amgen by 1.9% during the 1st quarter. Annex Advisory Services LLC now owns 15,091 shares of the medical research company’s stock worth $4,291,000 after buying an additional 285 shares during the last quarter. Riverview Trust Co increased its position in Amgen by 11.0% in the first quarter. Riverview Trust Co now owns 1,006 shares of the medical research company’s stock worth $286,000 after buying an additional 100 shares during the period. Finally, Mechanics Bank Trust Department lifted its stake in Amgen by 4.4% in the first quarter. Mechanics Bank Trust Department now owns 5,433 shares of the medical research company’s stock valued at $1,545,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AMGN. Sanford C. Bernstein assumed coverage on shares of Amgen in a report on Thursday. They issued an “outperform” rating and a $380.00 price objective on the stock. Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated 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. Barclays upped their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Argus raised their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $332.45.

Amgen Stock Performance

Shares of AMGN opened at $321.66 on Monday. The company has a market capitalization of $172.55 billion, a PE ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company’s 50 day moving average price is $326.07 and its 200 day moving average price is $312.41. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results 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). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company posted $5.00 earnings per share. Research analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. Amgen’s dividend 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.