Plato Investment Management Ltd raised its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 5.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,973 shares of the medical research company’s stock after purchasing an additional 885 shares during the quarter. Plato Investment Management Ltd’s holdings in Amgen were worth $5,616,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in AMGN. Strategic Financial Concepts LLC bought a new stake in Amgen in the 2nd quarter worth $26,000. Horizon Financial Services LLC bought a new stake in shares of Amgen in the first quarter worth about $28,000. United Community Bank purchased a new position in Amgen during the 4th quarter valued at about $29,000. nVerses Capital LLC bought a new position in Amgen during the 2nd quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Amgen Stock Up 0.7 %
Shares of Amgen stock opened at $332.45 on Friday. The company has a 50-day simple moving average of $328.18 and a two-hundred day simple moving average of $303.82. The stock has a market capitalization of $178.64 billion, a PE ratio of 47.49, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61. 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.
Amgen Announces Dividend
The firm 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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.71%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on AMGN. Morgan Stanley decreased their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada increased 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. Bank of America lifted their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, TD Cowen increased their target price on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Eleven 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $327.28.
Get Our Latest Analysis on Amgen
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.
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