Alpha Financial Partners LLC Takes $244,000 Position in Amgen Inc. (NASDAQ:AMGN)

Alpha Financial Partners LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 781 shares of the medical research company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. United Community Bank purchased a new stake in shares of Amgen during the 4th quarter worth about $29,000. Horizon Financial Services LLC acquired a new position in Amgen in the first quarter worth approximately $28,000. nVerses Capital LLC bought a new position in Amgen during the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen in the second quarter valued at approximately $33,000. Finally, Western Pacific Wealth Management LP bought a new stake in Amgen in the fourth quarter worth approximately $37,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Up 0.8 %

NASDAQ:AMGN opened at $335.26 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The stock’s fifty day simple moving average is $328.66 and its 200-day simple moving average is $304.44. The firm has a market capitalization of $179.85 billion, a P/E ratio of 47.89, a P/E/G ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly 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 company 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%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $5.00 earnings per share. Equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.68%. Amgen’s dividend payout ratio is 128.57%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Argus upped their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada increased their price target on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.