Choreo LLC Buys 12,079 Shares of Amgen Inc. (NASDAQ:AMGN)

Choreo LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 303.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,064 shares of the medical research company’s stock after purchasing an additional 12,079 shares during the period. Choreo LLC’s holdings in Amgen were worth $4,999,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AMGN. Capital International Investors increased its stake in Amgen by 547.8% in 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 acquiring an additional 5,923,915 shares during the last quarter. Norges Bank purchased a new position in shares of Amgen in the fourth quarter valued at $1,556,912,000. Vanguard Group Inc. increased its position in Amgen by 6.2% in 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 during the last quarter. Janus Henderson Group PLC raised its stake in Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares in the last quarter. Finally, Capital Wealth Planning LLC lifted its position in Amgen by 28,684.1% during the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after purchasing an additional 830,405 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Up 1.7 %

Shares of AMGN opened at $325.92 on Tuesday. The stock has a 50 day moving average price of $326.56 and a 200 day moving average price of $302.67. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a market capitalization of $175.13 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 2.85 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its earnings results 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). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned $5.00 earnings per share. Equities research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.76%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Ratings Changes

Several analysts recently weighed in on AMGN shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. TD Cowen lifted their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada raised their price objective on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and an average price target of $327.28.

Amgen Company 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.