Amgen Inc. (NASDAQ:AMGN) Position Raised by Biltmore Family Office LLC

Biltmore Family Office LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 26.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,891 shares of the medical research company’s stock after purchasing an additional 600 shares during the quarter. Biltmore Family Office LLC’s holdings in Amgen were worth $903,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. TCW Group Inc. raised its stake in Amgen by 25.1% during the 4th quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock valued at $50,376,000 after acquiring an additional 35,040 shares in the last quarter. Grassi Investment Management bought a new stake in shares of Amgen during the first quarter valued at about $2,283,000. Public Employees Retirement System of Ohio lifted its holdings in Amgen by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock worth $81,161,000 after purchasing an additional 4,376 shares during the period. Meyer Handelman Co. grew its position in Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after buying an additional 8,700 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in Amgen by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock valued at $1,388,000 after buying an additional 57 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.9 %

Shares of NASDAQ:AMGN opened at $328.93 on Wednesday. The firm has a 50 day simple moving average of $326.92 and a 200 day simple moving average of $302.95. Amgen Inc. has a 52 week low of $249.70 and a 52 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 cap of $176.74 billion, a PE ratio of 46.99, a price-to-earnings-growth ratio of 2.85 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced 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). The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned $5.00 earnings per share. As a group, research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.74%. Amgen’s payout ratio is presently 128.57%.

Analysts Set New Price Targets

AMGN has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Morgan Stanley decreased their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. 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, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $327.28.

Amgen 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.