Tower Wealth Partners Inc. Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Tower Wealth Partners Inc. increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 41.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,120 shares of the medical research company’s stock after buying an additional 329 shares during the period. Tower Wealth Partners Inc.’s holdings in Amgen were worth $350,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TCW Group Inc. grew its position in shares of Amgen by 25.1% during the 4th quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock valued at $50,376,000 after acquiring an additional 35,040 shares during the period. Grassi Investment Management acquired a new stake in Amgen in the first quarter valued at approximately $2,283,000. Public Employees Retirement System of Ohio grew its holdings in Amgen by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock valued at $81,161,000 after purchasing an additional 4,376 shares during the period. Meyer Handelman Co. increased its position in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after buying an additional 8,700 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Amgen by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock worth $1,388,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 0.8 %

Shares of AMGN opened at $335.26 on Tuesday. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The firm has a market capitalization of $179.85 billion, a P/E ratio of 47.89, a P/E/G ratio of 2.93 and a beta of 0.61. The firm has a 50-day moving average price of $328.66 and a 200 day moving average price of $304.44. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last posted its quarterly 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). The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the company earned $5.00 EPS. Sell-side analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Argus lifted their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Bank of America boosted 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. TD Cowen upped their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $327.28.

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.