Sitrin Capital Management LLC Has $7.07 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Sitrin Capital Management LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,638 shares of the medical research company’s stock after purchasing an additional 65 shares during the quarter. Amgen makes up approximately 3.8% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. Sitrin Capital Management LLC’s holdings in Amgen were worth $7,073,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of AMGN. Fermata Advisors LLC purchased a new stake in Amgen in the 2nd quarter worth approximately $401,000. Thrive Wealth Management LLC increased its stake in Amgen by 3.0% in the 2nd quarter. Thrive Wealth Management LLC now owns 2,854 shares of the medical research company’s stock worth $892,000 after buying an additional 82 shares in the last quarter. Williams & Novak LLC raised its holdings in Amgen by 183.9% during the second quarter. Williams & Novak LLC now owns 2,121 shares of the medical research company’s stock valued at $663,000 after acquiring an additional 1,374 shares during the period. Carr Financial Group Corp lifted its position in shares of Amgen by 9.5% in the second quarter. Carr Financial Group Corp now owns 3,090 shares of the medical research company’s stock valued at $965,000 after acquiring an additional 269 shares in the last quarter. Finally, JGP Wealth Management LLC lifted its position in shares of Amgen by 0.4% in the second quarter. JGP Wealth Management LLC now owns 52,332 shares of the medical research company’s stock valued at $16,351,000 after acquiring an additional 190 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 0.7 %

Shares of AMGN stock traded down $2.20 during trading hours on Friday, reaching $322.49. 1,786,545 shares of the stock were exchanged, compared to its average volume of 2,646,529. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 12-month low of $248.38 and a 12-month high of $346.85. The firm has a market capitalization of $172.99 billion, a price-to-earnings ratio of 46.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company’s 50-day moving average price is $318.39 and its 200-day moving average price is $298.84.

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

Amgen Dividend Announcement

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

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Bank of America lifted their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. 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 research note on Friday, May 3rd. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday. Finally, William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.