Journey Advisory Group LLC Purchases 1,197 Shares of Amgen Inc. (NASDAQ:AMGN)

Journey Advisory Group LLC raised its position in Amgen Inc. (NASDAQ:AMGN) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,163 shares of the medical research company’s stock after purchasing an additional 1,197 shares during the quarter. Amgen accounts for about 1.0% of Journey Advisory Group LLC’s holdings, making the stock its 29th biggest holding. Journey Advisory Group LLC’s holdings in Amgen were worth $8,175,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMGN. Horizon Financial Services LLC acquired a new position in Amgen during the 1st quarter worth about $28,000. United Community Bank bought a new position in shares of Amgen during the fourth quarter worth about $29,000. nVerses Capital LLC bought a new position in shares of Amgen during the second quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the second quarter worth approximately $33,000. Finally, Western Pacific Wealth Management LP bought a new stake in Amgen in the fourth quarter valued at approximately $37,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen 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 company a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Finally, Mizuho boosted their price target on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.89.

Amgen Stock Down 0.9 %

Shares of NASDAQ AMGN traded down $2.94 during mid-day trading on Thursday, reaching $327.70. 93,892 shares of the company’s stock traded hands, compared to its average volume of 2,532,024. 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 business has a 50-day simple moving average of $325.89 and a 200 day simple moving average of $301.70. The stock has a market cap of $175.79 billion, a P/E ratio of 47.23, a PEG ratio of 2.96 and a beta of 0.58. Amgen Inc. has a 1-year low of $248.38 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last announced 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 business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business posted $5.00 EPS. On average, analysts expect 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. Investors of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is currently 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.