Financial Advocates Investment Management boosted its position in Amgen, Inc. (NASDAQ:AMGN) by 10.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,326 shares of the medical research company’s stock after purchasing an additional 623 shares during the period. Financial Advocates Investment Management’s holdings in Amgen were worth $1,172,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. LSV Asset Management boosted its holdings in Amgen by 3.2% in the second quarter. LSV Asset Management now owns 4,157,649 shares of the medical research company’s stock worth $767,460,000 after acquiring an additional 128,865 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Amgen by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,207,242 shares of the medical research company’s stock valued at $592,025,000 after purchasing an additional 72,205 shares in the last quarter. Aristotle Capital Management LLC lifted its holdings in shares of Amgen by 3.9% in the first quarter. Aristotle Capital Management LLC now owns 2,279,468 shares of the medical research company’s stock valued at $388,604,000 after purchasing an additional 86,378 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Amgen by 3.2% in the second quarter. Swiss National Bank now owns 2,227,926 shares of the medical research company’s stock valued at $411,253,000 after purchasing an additional 69,500 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Amgen by 0.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,127,337 shares of the medical research company’s stock valued at $362,668,000 after purchasing an additional 11,327 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $195.71, for a total transaction of $298,457.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Shares of NASDAQ AMGN traded down $2.35 during midday trading on Friday, reaching $200.58. The company had a trading volume of 2,475,532 shares, compared to its average volume of 2,057,134. Amgen, Inc. has a one year low of $163.31 and a one year high of $204.42. The company has a current ratio of 3.39, a quick ratio of 3.12 and a debt-to-equity ratio of 2.03. The firm has a market cap of $129.13 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 1.94 and a beta of 1.39.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.31. Amgen had a return on equity of 43.18% and a net margin of 10.19%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the previous year, the business earned $3.27 EPS. Amgen’s revenue was up 4.3% compared to the same quarter last year. equities research analysts forecast that Amgen, Inc. will post 13.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 17th were issued a dividend of $1.32 per share. The ex-dividend date was Thursday, August 16th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.63%. Amgen’s dividend payout ratio (DPR) is 41.97%.

A number of research firms have recently weighed in on AMGN. Jefferies Financial Group restated a “buy” rating and issued a $220.00 target price on shares of Amgen in a report on Friday, August 24th. TheStreet upgraded Amgen from a “c+” rating to a “b-” rating in a report on Friday, May 25th. Citigroup raised their target price on Amgen from $188.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Piper Jaffray Companies increased their price target on Amgen from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $207.00 price target for the company in a research report on Tuesday, June 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $202.76.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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