Jackson Wealth Management LLC Buys Shares of 3,284 Amgen Inc. (NASDAQ:AMGN)

Jackson Wealth Management LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,284 shares of the medical research company’s stock, valued at approximately $1,026,000.

Several other hedge funds have also made changes to their positions in AMGN. Trust Point Inc. acquired a new stake in shares of Amgen during the fourth quarter worth about $1,061,000. Walkner Condon Financial Advisors LLC raised its holdings in Amgen by 9.2% in the fourth quarter. Walkner Condon Financial Advisors LLC now owns 1,453 shares of the medical research company’s stock valued at $418,000 after acquiring an additional 123 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Amgen by 212.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,884 shares of the medical research company’s stock valued at $9,183,000 after acquiring an additional 21,667 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. raised its holdings in Amgen by 1.3% in the fourth quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,782 shares of the medical research company’s stock valued at $1,377,000 after acquiring an additional 60 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in Amgen by 0.8% in the fourth quarter. Private Trust Co. NA now owns 7,685 shares of the medical research company’s stock valued at $2,213,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN traded down $1.54 during mid-day trading on Friday, reaching $333.99. 2,106,216 shares of the company’s stock were exchanged, compared to its average volume of 1,890,833. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The stock has a market capitalization of $179.16 billion, a PE ratio of 47.71, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The business’s fifty day simple moving average is $316.30 and its 200-day simple moving average is $298.30. Amgen Inc. has a 52-week low of $228.21 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period last year, the company earned $3.98 earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, August 16th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.69%. Amgen’s dividend payout ratio is presently 128.57%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMGN. UBS Group raised their target price on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. TD Cowen reduced their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada raised their target price on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Finally, Argus increased their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $312.63.

Amgen 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.