Luts & Greenleigh Group Inc. Acquires Shares of 661 Amgen Inc. (NASDAQ:AMGN)

Luts & Greenleigh Group Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 661 shares of the medical research company’s stock, valued at approximately $207,000.

Several other large investors have also recently made changes to their positions in AMGN. TCW Group Inc. grew its holdings in shares of Amgen by 25.1% during the fourth quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock worth $50,376,000 after buying an additional 35,040 shares in the last quarter. Grassi Investment Management purchased a new stake in shares of Amgen during the first quarter worth approximately $2,283,000. Public Employees Retirement System of Ohio increased its stake in shares of Amgen by 1.6% during 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 buying an additional 4,376 shares during the period. Meyer Handelman Co. increased its stake in Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in Amgen by 1.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock valued at $1,388,000 after purchasing an additional 57 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMGN shares. Morgan Stanley lowered their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Argus lifted their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. TD Cowen lifted their price target on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their price target on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a 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. According to data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $327.28.

Amgen Stock Performance

Shares of AMGN opened at $335.26 on Tuesday. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a 50-day moving average of $328.66 and a two-hundred day moving average of $304.44. The stock has a market cap of $179.85 billion, a price-to-earnings ratio of 47.89, a PEG ratio of 2.93 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last announced 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the business earned $5.00 earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities 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. 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 2.68%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is presently 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.