Envestnet Asset Management Inc. Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Envestnet Asset Management Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,408,785 shares of the medical research company’s stock after purchasing an additional 107,134 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Amgen worth $440,175,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Aveo Capital Partners LLC boosted its holdings in shares of Amgen by 19.9% in 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 during the last quarter. Gryphon Financial Partners LLC boosted its holdings 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 acquiring an additional 2,752 shares during the last quarter. Fiera Capital Corp boosted its holdings in 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 acquiring an additional 302 shares during the last quarter. Financial Advocates Investment Management grew its position in Amgen by 6.3% during the fourth quarter. Financial Advocates Investment Management now owns 8,675 shares of the medical research company’s stock valued at $2,498,000 after acquiring an additional 511 shares during the period. Finally, Level Four Advisory Services LLC increased its stake in 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 last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMGN. Argus lifted their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Royal Bank of Canada lifted their price target on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. 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. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Morgan Stanley decreased their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Trading Up 0.7 %

AMGN opened at $332.45 on Friday. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a market capitalization of $178.64 billion, a PE ratio of 47.49, a P/E/G ratio of 2.93 and a beta of 0.61. The firm’s fifty day moving average price is $328.18 and its 200 day moving average price is $303.82.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the previous year, the firm posted $5.00 EPS. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, research analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal 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 given a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.71%. Amgen’s payout ratio is 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.