Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 252.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,349 shares of the medical research company’s stock after purchasing an additional 966 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Amgen were worth $422,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMGN. Triasima Portfolio Management inc. increased its stake in shares of Amgen by 1.4% in the 2nd quarter. Triasima Portfolio Management inc. now owns 11,208 shares of the medical research company’s stock worth $3,502,000 after acquiring an additional 155 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Amgen by 3.0% in the second quarter. Ballentine Partners LLC now owns 11,660 shares of the medical research company’s stock valued at $3,643,000 after purchasing an additional 345 shares during the period. Ellis Investment Partners LLC raised its stake in Amgen by 1.0% during the second quarter. Ellis Investment Partners LLC now owns 3,484 shares of the medical research company’s stock worth $1,089,000 after purchasing an additional 35 shares during the period. MRA Advisory Group acquired a new position in Amgen in the 2nd quarter valued at about $288,000. Finally, Arlington Trust Co LLC grew its stake in shares of Amgen by 47.3% in the 2nd quarter. Arlington Trust Co LLC now owns 2,865 shares of the medical research company’s stock valued at $895,000 after buying an additional 920 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 1.2 %

Shares of NASDAQ:AMGN traded down $3.80 during trading hours on Friday, reaching $320.56. The stock had a trading volume of 2,242,451 shares, compared to its average volume of 2,541,291. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The firm’s 50 day moving average is $326.26 and its 200-day moving average is $302.25. The stock has a market capitalization of $171.96 billion, a price-to-earnings ratio of 45.79, a P/E/G ratio of 2.96 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $5.00 EPS. Research analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Bank of America increased their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, TD Cowen increased their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $327.28.

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.