Providence Wealth Advisors LLC Has $1.70 Million Position in Amgen Inc. (NASDAQ:AMGN)

Providence Wealth Advisors LLC raised its position in Amgen Inc. (NASDAQ:AMGN) by 2.3% in the 2nd quarter, Holdings Channel reports. The firm owned 5,411 shares of the medical research company’s stock after buying an additional 120 shares during the period. Amgen accounts for approximately 1.4% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Providence Wealth Advisors LLC’s holdings in Amgen were worth $1,701,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMGN. Aveo Capital Partners LLC lifted its holdings in shares of Amgen by 19.9% during the 4th quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after purchasing an additional 453 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in Amgen by 295.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock valued at $1,021,000 after buying an additional 2,752 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of Amgen by 11.6% in the fourth quarter. Fiera Capital Corp now owns 2,910 shares of the medical research company’s stock valued at $838,000 after buying an additional 302 shares during the period. Financial Advocates Investment Management increased its position in shares of Amgen by 6.3% during the fourth quarter. Financial Advocates Investment Management now owns 8,675 shares of the medical research company’s stock worth $2,498,000 after acquiring an additional 511 shares in the last quarter. Finally, Level Four Advisory Services LLC raised its holdings in shares of Amgen by 2.6% during the fourth quarter. Level Four Advisory Services LLC now owns 3,958 shares of the medical research company’s stock worth $1,140,000 after acquiring an additional 100 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada boosted their target price on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Argus raised their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen Trading Up 0.7 %

AMGN stock opened at $332.45 on Friday. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The stock has a market cap of $178.64 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61. The company has a fifty day moving average price of $328.18 and a two-hundred day moving average price of $303.82. 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). The company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.00 EPS. Equities analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.71%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Amgen 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.