Axxcess Wealth Management LLC Has $5.14 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Axxcess Wealth Management LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 30.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,442 shares of the medical research company’s stock after buying an additional 3,833 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Amgen were worth $5,137,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower Wealth Partners Inc. increased its holdings in shares of Amgen by 41.6% during the second quarter. Tower Wealth Partners Inc. now owns 1,120 shares of the medical research company’s stock valued at $350,000 after acquiring an additional 329 shares in the last quarter. Alpha Financial Partners LLC acquired a new stake in Amgen in the 2nd quarter valued at $244,000. Luts & Greenleigh Group Inc. bought a new stake in Amgen during the 2nd quarter valued at $207,000. WealthPLAN Partners LLC acquired a new position in Amgen during the second quarter worth $3,855,000. Finally, Citizens Financial Group Inc. RI lifted its stake in shares of Amgen by 28.5% in the second quarter. Citizens Financial Group Inc. RI now owns 14,218 shares of the medical research company’s stock valued at $4,442,000 after buying an additional 3,156 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America upped their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Trading Down 0.7 %

Shares of AMGN stock opened at $332.80 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm has a market cap of $178.53 billion, a P/E ratio of 47.54, a PEG ratio of 2.93 and a beta of 0.61. The company has a 50 day moving average of $329.00 and a 200-day moving average of $304.81. Amgen Inc. has a 12-month low of $249.70 and a 12-month 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 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 net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the company posted $5.00 earnings per share. Sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.70%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.