1620 Investment Advisors Inc. Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

1620 Investment Advisors Inc. purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 341 shares of the medical research company’s stock, valued at approximately $107,000.

Other hedge funds also recently modified their holdings of the company. Horizon Financial Services LLC acquired a new stake in shares of Amgen in the first quarter worth approximately $28,000. United Community Bank acquired a new stake in shares of Amgen in the fourth quarter worth approximately $29,000. Delos Wealth Advisors LLC boosted its position in shares of Amgen by 2,500.0% in the fourth 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 last quarter. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen in the second quarter worth approximately $33,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Amgen in the fourth quarter worth approximately $37,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Down 1.4 %

AMGN stock opened at $324.53 on Friday. Amgen Inc. has a twelve month low of $248.38 and a twelve month high of $346.85. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The company has a market capitalization of $174.09 billion, a P/E ratio of 46.36, a PEG ratio of 2.78 and a beta of 0.58. The firm has a 50 day simple moving average of $322.10 and a 200-day simple moving average of $299.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.00 EPS. On average, equities research analysts predict that Amgen Inc. will post 19.5 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Several research firms recently commented on AMGN. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $230.00 to $300.00 in a report on Friday, May 3rd. Morgan Stanley cut their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada raised their price target on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets raised their price target on shares of Amgen from $336.00 to $355.00 and gave the company 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.