Masso Torrence Wealth Management Inc. Has $1.38 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Masso Torrence Wealth Management Inc. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 13.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,422 shares of the medical research company’s stock after acquiring an additional 536 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Amgen were worth $1,382,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Capital International Investors grew its holdings in Amgen by 547.8% during 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 period. Price T Rowe Associates Inc. MD raised its position in shares of Amgen by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after acquiring an additional 243,720 shares in the last quarter. Royal Bank of Canada raised its position in shares of Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after acquiring an additional 751,947 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Amgen in the 4th quarter valued at about $1,556,912,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. TD Cowen boosted their target price on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Mizuho lifted their price target on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Morgan Stanley cut their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $326.89.

Amgen Stock Up 0.2 %

Shares of AMGN stock traded up $0.58 on Tuesday, hitting $328.55. The stock had a trading volume of 1,352,484 shares, compared to its average volume of 2,599,579. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The business has a 50 day moving average of $321.01 and a 200 day moving average of $299.19. Amgen Inc. has a 12-month low of $248.38 and a 12-month high of $346.85. The stock has a market cap of $176.25 billion, a price-to-earnings ratio of 46.94, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the business posted $5.00 EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, analysts expect that Amgen Inc. will post 19.5 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced 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. This represents a $9.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

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.