Arjuna Capital Has $7.85 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Arjuna Capital raised its position in Amgen Inc. (NASDAQ:AMGN) by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,129 shares of the medical research company’s stock after acquiring an additional 987 shares during the period. Amgen makes up approximately 2.1% of Arjuna Capital’s holdings, making the stock its 10th biggest holding. Arjuna Capital’s holdings in Amgen were worth $7,852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Horizon Financial Services LLC purchased a new position in shares of Amgen in the 1st quarter valued at approximately $28,000. United Community Bank purchased a new stake in Amgen during the 4th quarter valued at about $29,000. Delos Wealth Advisors LLC increased its holdings 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 valued at $30,000 after purchasing an additional 100 shares during the period. Bbjs Financial Advisors LLC purchased a new position in shares of Amgen in the second quarter worth about $33,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Amgen during the fourth quarter worth about $37,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

NASDAQ AMGN traded up $2.82 during trading hours on Friday, hitting $333.83. 2,173,377 shares of the company’s stock traded hands, compared to its average volume of 2,554,402. Amgen Inc. has a 52-week low of $248.38 and a 52-week high of $346.85. 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 company has a market capitalization of $179.08 billion, a PE ratio of 47.69, a PEG ratio of 2.78 and a beta of 0.58. The firm’s 50-day moving average is $324.48 and its 200-day moving average is $300.43.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) 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 analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the company earned $5.00 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities analysts forecast 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. Investors of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Analyst Ratings Changes

AMGN has been the topic of several research reports. 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. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. UBS Group boosted their price objective on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average 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.