Magnus Financial Group LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Magnus Financial Group LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGNFree Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 778 shares of the medical research company’s stock, valued at approximately $243,000.

A number of other hedge funds also recently bought and sold shares of the business. Capital International Investors grew its holdings in Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after buying an additional 5,923,915 shares in the last quarter. Norges Bank purchased a new stake in shares of Amgen in the fourth quarter valued at about $1,556,912,000. Vanguard Group Inc. grew its holdings in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the period. Janus Henderson Group PLC increased its position in Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. Finally, Capital Wealth Planning LLC raised its stake in Amgen by 28,684.1% during the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after purchasing an additional 830,405 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $330.51 on Wednesday. The stock has a 50-day simple moving average of $325.53 and a 200-day simple moving average of $301.50. 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 Inc. has a 1 year low of $248.38 and a 1 year high of $346.85. The stock has a market capitalization of $177.30 billion, a PE ratio of 47.22, a PEG ratio of 2.96 and a beta of 0.58.

Amgen (NASDAQ:AMGNGet Free Report) last released its quarterly earnings data 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 analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the firm posted $5.00 earnings per share. On average, analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Mizuho raised their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. TD Cowen upped their price target on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price target on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, 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. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $326.89.

Check Out Our Latest Research Report on AMGN

About Amgen

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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