Amgen Inc. (NASDAQ:AMGN) Shares Acquired by IAM Advisory LLC

IAM Advisory LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,021 shares of the medical research company’s stock after acquiring an additional 102 shares during the quarter. IAM Advisory LLC’s holdings in Amgen were worth $2,194,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. BOK Financial Private Wealth Inc. bought a new position in Amgen during the 4th quarter valued at $29,000. United Community Bank bought a new position in Amgen during the 4th quarter valued at $29,000. Horizon Financial Services LLC bought a new position in Amgen during the 1st quarter valued at $28,000. Delos Wealth Advisors LLC boosted its stake in Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Hartford Financial Management Inc. boosted its stake in Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 41 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Amgen stock traded down $2.20 during trading hours on Friday, hitting $322.49. The company had a trading volume of 1,786,545 shares, compared to its average volume of 2,646,529. The firm has a market cap of $172.99 billion, a PE ratio of 46.07, a PEG ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. Amgen Inc. has a one year low of $248.38 and a one year high of $346.85. The firm has a 50-day moving average of $318.39 and a 200 day moving average of $298.79.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the prior year, the company earned $5.00 earnings per share. The firm’s revenue was up 20.1% compared to the same quarter last year. On average, sell-side analysts expect that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.79%. Amgen’s payout ratio is presently 128.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMGN shares. Royal Bank of Canada raised their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday. Finally, Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $326.89.

About Amgen

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.