Pasadena Private Wealth LLC Takes $583,000 Position in Amgen Inc. (NASDAQ:AMGN)

Pasadena Private Wealth LLC acquired a new position in Amgen Inc. (NASDAQ:AMGNFree Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,625 shares of the medical research company’s stock, valued at approximately $583,000.

Several other large investors have also recently added to or reduced their stakes in AMGN. Roundview Capital LLC lifted its holdings in Amgen by 1.3% in the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after acquiring an additional 107 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of Amgen by 39.2% in the first quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock valued at $555,000 after purchasing an additional 647 shares in the last quarter. Ergoteles LLC purchased a new position in shares of Amgen during the first quarter valued at $219,000. First Western Trust Bank purchased a new stake in Amgen in the 1st quarter worth about $334,000. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Amgen by 2.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock valued at $5,970,000 after acquiring an additional 513 shares in the last quarter. 74.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research reports. Jefferies Financial Group upped their price target on shares of Amgen from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Royal Bank of Canada lifted their price target on Amgen from $250.00 to $253.00 and gave the company a “sector perform” rating in a report on Friday, August 4th. Argus increased their price objective on Amgen from $260.00 to $280.00 in a report on Monday. Barclays cut their price objective on shares of Amgen from $225.00 to $210.00 in a research report on Tuesday, July 11th. Finally, HSBC began coverage on shares of Amgen in a research note on Wednesday, September 6th. They set a “buy” rating and a $320.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $265.44.

Read Our Latest Stock Analysis on Amgen

Amgen Stock Performance

NASDAQ:AMGN traded up $3.23 during mid-day trading on Monday, hitting $263.95. 531,096 shares of the company’s stock traded hands, compared to its average volume of 2,452,225. The firm has a market capitalization of $141.19 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 3.30 and a beta of 0.61. The firm has a 50 day moving average of $248.12 and a two-hundred day moving average of $237.72. The company has a current ratio of 2.77, a quick ratio of 2.48 and a debt-to-equity ratio of 8.76. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $296.67.

Amgen (NASDAQ:AMGNGet Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The medical research company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.44 by $0.56. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.66 billion. Amgen had a return on equity of 196.60% and a net margin of 30.02%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 earnings per share. On average, equities analysts forecast that Amgen Inc. will post 18.35 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were paid a $2.13 dividend. This represents a $8.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Thursday, August 17th. Amgen’s payout ratio is presently 57.45%.

Insider Activity at Amgen

In other Amgen news, EVP Murdo Gordon sold 9,558 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $262.43, for a total value of $2,508,305.94. Following the completion of the transaction, the executive vice president now owns 44,308 shares of the company’s stock, valued at approximately $11,627,748.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

Amgen Profile

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Beh├žet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

See Also

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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