Heritage Oak Wealth Advisors LLC Purchases New Shares in Amgen Inc. (NASDAQ:AMGN)

Heritage Oak Wealth Advisors LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,872 shares of the medical research company’s stock, valued at approximately $585,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hershey Financial Advisers LLC bought a new stake in Amgen during the second quarter worth about $30,000. Horizon Financial Services LLC bought a new stake in Amgen during the first quarter worth about $28,000. nVerses Capital LLC bought a new stake in Amgen during the second quarter worth about $31,000. Bbjs Financial Advisors LLC bought a new stake in Amgen during the second quarter worth about $33,000. Finally, FSA Wealth Management LLC lifted its position in Amgen by 182.0% during the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after purchasing an additional 91 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $322.21 on Tuesday. The company has a fifty day simple moving average of $328.49 and a 200 day simple moving average of $308.12. 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 company has a market cap of $172.84 billion, a P/E ratio of 46.03, a PEG ratio of 2.98 and a beta of 0.61.

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

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, 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 report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $325.55.

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.