Lee Danner & Bass Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 23,353 shares of the medical research company’s stock, valued at approximately $7,297,000.
A number of other large investors have also modified their holdings of AMGN. International Assets Investment Management LLC acquired a new stake in shares of Amgen in the fourth quarter valued at about $32,880,000. GUNN & Co INVESTMENT MANAGEMENT INC. grew its stake in shares of Amgen by 1,089.5% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 108,838 shares of the medical research company’s stock valued at $31,348,000 after buying an additional 99,688 shares in the last quarter. Silver Oak Securities Incorporated boosted its holdings in Amgen by 15.9% in the fourth quarter. Silver Oak Securities Incorporated now owns 1,366 shares of the medical research company’s stock valued at $393,000 after purchasing an additional 187 shares during the last quarter. Mather Group LLC. boosted its holdings in Amgen by 10.3% in the fourth quarter. Mather Group LLC. now owns 12,262 shares of the medical research company’s stock valued at $3,532,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in Amgen by 7.8% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,424 shares of the medical research company’s stock valued at $698,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.
Amgen Stock Performance
Shares of NASDAQ AMGN traded up $2.82 during mid-day trading on Friday, hitting $333.83. The company had a trading volume of 2,173,377 shares, compared to its average volume of 2,554,402. Amgen Inc. has a 12 month low of $248.38 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The stock has a market cap of $179.08 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 2.78 and a beta of 0.58. The firm’s 50 day simple moving average is $324.48 and its two-hundred day simple moving average is $300.43.
Amgen Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Argus increased their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Morgan Stanley reduced their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Mizuho increased their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Finally, Bank of America increased their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $326.89.
Read Our Latest Stock Analysis on AMGN
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.
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