Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 7.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 813 shares of the medical research company’s stock after acquiring an additional 53 shares during the period. Meridian Wealth Partners LLC’s holdings in Amgen were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Strategic Financial Concepts LLC purchased a new position in shares of Amgen in the second quarter valued at $26,000. Horizon Financial Services LLC purchased a new position in Amgen in the 1st quarter valued at about $28,000. United Community Bank acquired a new stake in shares of Amgen during the fourth quarter valued at about $29,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the second quarter worth about $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.7 %

Shares of Amgen stock opened at $332.80 on Wednesday. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The company has a market capitalization of $178.53 billion, a P/E ratio of 47.54, a PEG ratio of 2.93 and a beta of 0.61. The business’s fifty day moving average price is $329.00 and its two-hundred day moving average price is $304.81. 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 posted its quarterly earnings data 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). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $5.00 EPS. As a group, research analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMGN. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada upped their price target on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, TD Cowen upped their target price on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

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.