12,337 Shares in Amgen Inc. (NASDAQ:AMGN) Acquired by WealthPLAN Partners LLC

WealthPLAN Partners LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,337 shares of the medical research company’s stock, valued at approximately $3,855,000.

Other large investors have also modified their holdings of the company. Citizens Financial Group Inc. RI raised its position in Amgen by 28.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 14,218 shares of the medical research company’s stock valued at $4,442,000 after purchasing an additional 3,156 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Amgen by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after buying an additional 162,223 shares during the last quarter. Capital Wealth Planning LLC grew its holdings in shares of Amgen by 47.1% during the second quarter. Capital Wealth Planning LLC now owns 1,226,027 shares of the medical research company’s stock worth $383,072,000 after buying an additional 392,727 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new position in Amgen in the 2nd quarter valued at about $2,528,000. Finally, Brown Brothers Harriman & Co. increased its position in Amgen by 21.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 20,452 shares of the medical research company’s stock valued at $6,390,000 after acquiring an additional 3,555 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Amgen stock opened at $335.26 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm’s 50-day simple moving average is $328.66 and its 200 day simple moving average is $304.44. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The firm has a market capitalization of $179.85 billion, a PE ratio of 47.89, a P/E/G ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same period last year, the company earned $5.00 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, equities research analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. 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 2.68%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analyst Weigh In

AMGN has been the topic of several analyst reports. Argus lifted their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Oppenheimer reissued an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Bank of America raised their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Morgan Stanley reduced their price objective 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 investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus target price of $327.28.

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.