Atlas Capital Advisors LLC Buys 5,289 Shares of Amgen Inc. (NASDAQ:AMGN)

Atlas Capital Advisors LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 383.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,670 shares of the medical research company’s stock after acquiring an additional 5,289 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Amgen were worth $2,084,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Provence Wealth Management Group boosted its position in shares of Amgen by 11.9% during the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after purchasing an additional 154 shares in the last quarter. Kinsale Capital Group Inc. boosted its holdings in shares of Amgen by 33.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after buying an additional 2,814 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its position in shares of Amgen by 2.4% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after buying an additional 109 shares during the period. Valley Brook Capital Group Inc. increased its stake in shares of Amgen by 7.0% in the 4th quarter. Valley Brook Capital Group Inc. now owns 4,730 shares of the medical research company’s stock worth $1,362,000 after acquiring an additional 310 shares in the last quarter. Finally, Evergreen Wealth Management LLC lifted its position in Amgen by 1.7% during the 4th quarter. Evergreen Wealth Management LLC now owns 4,892 shares of the medical research company’s stock valued at $1,409,000 after acquiring an additional 84 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMGN. BMO Capital Markets upped their price objective on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Argus boosted their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 price target (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $326.89.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $2.82 during midday trading on Friday, hitting $333.83. 2,173,377 shares of the stock traded hands, compared to its average volume of 2,554,402. The firm has a market capitalization of $179.08 billion, a P/E ratio of 47.69, a PEG ratio of 2.78 and a beta of 0.58. Amgen Inc. has a one year low of $248.38 and a one year high of $346.85. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The firm has a 50-day moving average of $324.48 and a two-hundred day moving average of $300.43.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the prior year, the company posted $5.00 EPS. The firm’s revenue was up 20.1% compared to the same quarter last year. On average, equities analysts forecast that Amgen Inc. will post 19.5 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued 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 2.70%. Amgen’s dividend payout ratio is currently 128.57%.

About Amgen

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.