Stablepoint Partners LLC Grows Stake in Amgen Inc. (NASDAQ:AMGN)

Stablepoint Partners LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 79.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,474 shares of the medical research company’s stock after purchasing an additional 9,087 shares during the quarter. Amgen comprises approximately 1.2% of Stablepoint Partners LLC’s portfolio, making the stock its 12th biggest holding. Stablepoint Partners LLC’s holdings in Amgen were worth $6,808,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Aveo Capital Partners LLC lifted its position in Amgen by 19.9% in the fourth quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after purchasing an additional 453 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Amgen by 12.7% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,638 shares of the medical research company’s stock worth $1,624,000 after buying an additional 637 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in Amgen by 295.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock worth $1,021,000 after buying an additional 2,752 shares during the period. US Asset Management LLC bought a new stake in Amgen during the 4th quarter valued at approximately $632,000. Finally, Kessler Investment Group LLC grew its holdings in shares of Amgen by 1.6% during the 4th quarter. Kessler Investment Group LLC now owns 4,383 shares of the medical research company’s stock worth $1,262,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Royal Bank of Canada upped their price target on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Mizuho increased their price target on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Argus boosted their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, TD Cowen raised their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $326.89.

Amgen Trading Up 0.0 %

Shares of Amgen stock opened at $330.64 on Thursday. Amgen Inc. has a fifty-two week low of $248.38 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company has a market capitalization of $177.37 billion, a P/E ratio of 47.23, a P/E/G ratio of 2.96 and a beta of 0.58. The company has a fifty day moving average of $325.89 and a 200 day moving average of $301.70.

Amgen (NASDAQ:AMGN) last released 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 return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the prior year, the business posted $5.00 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.72%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

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.