Mayflower Financial Advisors LLC Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

Mayflower Financial Advisors LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,131 shares of the medical research company’s stock after purchasing an additional 232 shares during the period. Mayflower Financial Advisors LLC’s holdings in Amgen were worth $1,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Horizon Financial Services LLC purchased a new stake in shares of Amgen during the 1st quarter valued at about $28,000. United Community Bank acquired a new position in shares of Amgen during the fourth quarter worth $29,000. nVerses Capital LLC purchased a new position in shares of Amgen in the second quarter valued at $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen during the 2nd quarter valued at $33,000. Finally, Western Pacific Wealth Management LP purchased a new stake in Amgen during the 4th quarter worth $37,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ:AMGN traded down $2.78 during midday trading on Thursday, hitting $327.86. 86,073 shares of the stock were exchanged, compared to its average volume of 2,531,979. Amgen Inc. has a one year low of $248.38 and a one year high of $346.85. The company has a market capitalization of $175.88 billion, a price-to-earnings ratio of 47.23, a P/E/G ratio of 2.96 and a beta of 0.58. The business has a 50-day moving average price of $325.89 and a two-hundred day moving average price of $301.70. 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 announced its 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the prior year, the business earned $5.00 EPS. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. Sell-side analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors 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 2.75%. Amgen’s payout ratio is currently 128.57%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMGN shares. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $380.00 target price 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 objective (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Mizuho boosted their target price on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average 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.