Alpha Financial Partners LLC Acquires New Holdings in Amgen Inc. (NASDAQ:AMGN)

Alpha Financial Partners LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 781 shares of the medical research company’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Strategic Financial Concepts LLC acquired a new position in shares of Amgen during the second quarter worth approximately $26,000. Horizon Financial Services LLC acquired a new position in Amgen during the 1st quarter worth $28,000. United Community Bank bought a new position in shares of Amgen in the fourth quarter worth $29,000. nVerses Capital LLC acquired a new position in shares of Amgen during the second quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the second quarter valued at about $33,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.8 %

Amgen stock opened at $335.26 on Tuesday. Amgen Inc. has a 52 week low of $249.70 and a 52 week 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 firm has a market capitalization of $179.85 billion, a price-to-earnings ratio of 47.89, a P/E/G ratio of 2.93 and a beta of 0.61. The company has a 50 day moving average price of $328.66 and a 200 day moving average price of $304.44.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued 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 2.68%. Amgen’s dividend payout ratio is 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent analyst reports. TD Cowen increased 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. Royal Bank of Canada increased their price objective on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price (up previously from $375.00) 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 increased their price target for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Morgan Stanley lowered their price target on 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 research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price 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.