Platform Technology Partners grew its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 2.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,428 shares of the medical research company’s stock after buying an additional 113 shares during the period. Platform Technology Partners’ holdings in Amgen were worth $1,215,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Apeiron RIA LLC raised its stake in shares of Amgen by 2.3% during the first quarter. Apeiron RIA LLC now owns 1,842 shares of the medical research company’s stock valued at $446,000 after purchasing an additional 42 shares during the period. All Terrain Financial Advisors LLC boosted its holdings in Amgen by 0.8% in the first quarter. All Terrain Financial Advisors LLC now owns 5,646 shares of the medical research company’s stock worth $1,365,000 after purchasing an additional 44 shares during the period. LifeSteps Financial Inc. boosted its holdings in Amgen by 3.4% in the first quarter. LifeSteps Financial Inc. now owns 1,373 shares of the medical research company’s stock worth $332,000 after purchasing an additional 45 shares during the period. First United Bank & Trust boosted its holdings in Amgen by 0.7% in the first quarter. First United Bank & Trust now owns 6,345 shares of the medical research company’s stock worth $1,534,000 after purchasing an additional 45 shares during the period. Finally, Park National Corp OH boosted its holdings in Amgen by 1.8% in the second quarter. Park National Corp OH now owns 2,614 shares of the medical research company’s stock worth $580,000 after purchasing an additional 45 shares during the period. 74.44% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. HSBC assumed coverage on Amgen in a research note on Wednesday, September 6th. They issued a “buy” rating and a $320.00 target price on the stock. Truist Financial restated a “hold” rating and set a $260.00 price objective on shares of Amgen in a research note on Tuesday, September 5th. Mizuho lifted their price objective on shares of Amgen from $214.00 to $223.00 and gave the company a “neutral” rating in a research note on Monday, August 14th. Oppenheimer reiterated an “outperform” rating and issued a $280.00 price target on shares of Amgen in a research report on Tuesday, July 25th. Finally, Barclays dropped their price target on Amgen from $225.00 to $210.00 in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $265.44.
Amgen Price Performance
NASDAQ:AMGN traded up $3.17 during trading hours on Monday, reaching $263.89. The company had a trading volume of 585,163 shares, compared to its average volume of 2,452,380. The stock has a 50-day moving average of $248.12 and a two-hundred day moving average of $237.72. Amgen Inc. has a one year low of $211.71 and a one year high of $296.67. The firm has a market capitalization of $141.15 billion, a PE ratio of 17.80, a PEG ratio of 3.30 and a beta of 0.61. The company has a quick ratio of 2.48, a current ratio of 2.77 and a debt-to-equity ratio of 8.76.
Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The medical research company reported $5.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $0.56. Amgen had a return on equity of 196.60% and a net margin of 30.02%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts forecast that Amgen Inc. will post 18.35 earnings per share for the current year.
Amgen Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a dividend of $2.13 per share. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Thursday, August 17th. Amgen’s dividend payout ratio is currently 57.45%.
Insider Transactions at Amgen
In other Amgen news, EVP Murdo Gordon sold 9,558 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $262.43, for a total value of $2,508,305.94. Following the completion of the transaction, the executive vice president now directly owns 44,308 shares in the company, valued at $11,627,748.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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