Magnus Financial Group LLC Makes New $243,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Magnus Financial Group LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the second quarter, HoldingsChannel.com reports. The fund purchased 778 shares of the medical research company’s stock, valued at approximately $243,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Amgen by 6.2% during the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares in the last quarter. Capital International Investors raised its stake in shares of Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after buying an additional 5,923,915 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Amgen by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after buying an additional 243,720 shares in the last quarter. Royal Bank of Canada grew its stake in Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after acquiring an additional 751,947 shares during the last quarter. Finally, Norges Bank purchased a new position in Amgen during the 4th quarter valued at about $1,556,912,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 1.0 %

Shares of AMGN opened at $330.51 on Wednesday. Amgen Inc. has a twelve month low of $248.38 and a twelve month high of $346.85. The firm has a market capitalization of $177.30 billion, a P/E ratio of 47.22, a price-to-earnings-growth ratio of 2.96 and a beta of 0.58. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock’s fifty day simple moving average is $325.53 and its 200 day simple moving average is $301.50.

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

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders 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 annualized dividend and a yield of 2.72%. Amgen’s dividend payout ratio is currently 128.57%.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent research reports. Argus raised their price objective 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. TD Cowen increased their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Finally, Morgan Stanley lowered their price target on shares of 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 twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.89.

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.