Tower Wealth Partners Inc. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 11.6% during the 2nd quarter, Holdings Channel reports. The firm owned 1,114 shares of the medical research company’s stock after buying an additional 116 shares during the period. Tower Wealth Partners Inc.’s holdings in Amgen were worth $311,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen during the 1st quarter worth approximately $25,000. First Pacific Financial grew its position in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 85 shares during the last quarter. Activest Wealth Management grew its position in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. grew its position in Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 122 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.
Amgen Price Performance
Shares of AMGN stock opened at $297.32 on Thursday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The stock’s 50-day moving average is $286.71 and its 200 day moving average is $287.44. The company has a market cap of $160.07 billion, a P/E ratio of 24.31, a PEG ratio of 2.60 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.
Amgen Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen’s dividend payout ratio (DPR) is presently 77.84%.
Insider Buying and Selling
In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.76% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Bank of America increased their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Citigroup increased their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and a consensus target price of $309.42.
View Our Latest Stock Report on Amgen
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.
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