Amgen Inc. (NASDAQ:AMGN) Stock Holdings Lifted by Parcion Private Wealth LLC

Parcion Private Wealth LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 22.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,570 shares of the medical research company’s stock after purchasing an additional 290 shares during the quarter. Parcion Private Wealth LLC’s holdings in Amgen were worth $491,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMGN. Aveo Capital Partners LLC raised its stake in Amgen by 19.9% during the 4th quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after purchasing an additional 453 shares during the period. Gryphon Financial Partners LLC boosted its holdings in Amgen by 295.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock worth $1,021,000 after purchasing an additional 2,752 shares in the last quarter. Principal Securities Inc. bought a new stake in Amgen in the fourth quarter worth $2,866,000. Calton & Associates Inc. bought a new stake in Amgen in the fourth quarter worth $251,000. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in Amgen by 121.4% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 25,893 shares of the medical research company’s stock worth $7,458,000 after purchasing an additional 14,200 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ:AMGN traded down $3.80 during mid-day trading on Friday, hitting $320.56. The company’s stock had a trading volume of 2,242,451 shares, compared to its average volume of 2,541,291. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week 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 capitalization of $171.96 billion, a price-to-earnings ratio of 45.79, a P/E/G ratio of 2.96 and a beta of 0.58. The stock has a fifty day moving average of $326.26 and a 200-day moving average of $302.12.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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). The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company posted $5.00 earnings per share. As a group, equities analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.81%. Amgen’s dividend payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent research reports. Argus upped their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Oppenheimer reissued an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen boosted 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. Finally, Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $327.28.

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.