Hennessy Advisors Inc. Purchases 100 Shares of Amgen Inc. (NASDAQ:AMGN)

Hennessy Advisors Inc. raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,300 shares of the medical research company’s stock after acquiring an additional 100 shares during the period. Hennessy Advisors Inc.’s holdings in Amgen were worth $4,156,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Horizon Financial Services LLC acquired a new stake in Amgen in the first quarter worth about $28,000. United Community Bank bought a new position in Amgen in the fourth quarter valued at approximately $29,000. Delos Wealth Advisors LLC grew its holdings in Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares during the period. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $33,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Amgen in the 4th quarter valued at $37,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.5 %

Shares of AMGN stock opened at $326.00 on Friday. The firm has a market capitalization of $174.88 billion, a P/E ratio of 46.36, a P/E/G ratio of 2.78 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a twelve month low of $248.38 and a twelve month high of $346.85. The stock’s fifty day simple moving average is $322.10 and its 200 day simple moving average is $299.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results 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). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the previous year, the company posted $5.00 EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, sell-side analysts predict that Amgen Inc. will post 19.5 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent analyst reports. Mizuho upped their price objective on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. BMO Capital Markets lifted their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, TD Cowen upped their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus price target of $326.89.

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.