8,091 Shares in Amgen Inc. (NASDAQ:AMGN) Purchased by Fairfield Financial Advisors LTD

Fairfield Financial Advisors LTD acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 8,091 shares of the medical research company’s stock, valued at approximately $2,528,000. Amgen makes up about 0.9% of Fairfield Financial Advisors LTD’s holdings, making the stock its 24th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. United Community Bank purchased a new position in shares of Amgen during the fourth quarter valued at approximately $29,000. Horizon Financial Services LLC purchased a new position in shares of Amgen during the 1st quarter worth $28,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the second quarter worth $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the second quarter valued at $33,000. Finally, Western Pacific Wealth Management LP purchased a new position in Amgen during the fourth quarter worth about $37,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.7 %

NASDAQ:AMGN opened at $332.45 on Monday. The company has a market cap of $178.64 billion, a PE ratio of 47.49, a P/E/G ratio of 2.93 and a beta of 0.61. The business’s 50 day moving average is $328.18 and its two-hundred day moving average is $304.00. 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.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the business earned $5.00 earnings per share. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. TD Cowen lifted their price target on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Morgan Stanley lowered their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Finally, Bank of America increased their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $327.28.

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.