Meeder Advisory Services Inc. Increases Position in Amgen Inc. (NASDAQ:AMGN)

Meeder Advisory Services Inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 30.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,922 shares of the medical research company’s stock after buying an additional 3,053 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Amgen were worth $4,037,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen during the second quarter valued at $26,000. Horizon Financial Services LLC acquired a new position in Amgen during the first quarter valued at $28,000. United Community Bank acquired a new position in Amgen during the fourth quarter valued at $29,000. nVerses Capital LLC acquired a new position in Amgen during the second quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen during the second quarter valued at $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 0.0 %

AMGN opened at $330.06 on Friday. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company has a 50-day moving average price of $327.75 and a 200 day moving average price of $303.32. The company has a market cap of $177.06 billion, a PE ratio of 47.15, a price-to-earnings-growth ratio of 2.85 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the company earned $5.00 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Sell-side analysts expect that Amgen Inc. will post 19.49 earnings per share 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 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 dividend yield of 2.73%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their target price on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Argus boosted their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, 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 report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus 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.