Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Torray Investment Partners LLC

Torray Investment Partners LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,257 shares of the medical research company’s stock after purchasing an additional 104 shares during the quarter. Torray Investment Partners LLC’s holdings in Amgen were worth $4,767,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Horizon Financial Services LLC purchased a new stake in shares of Amgen in the 1st quarter worth about $28,000. United Community Bank purchased a new stake in shares of Amgen in the fourth quarter valued at about $29,000. nVerses Capital LLC acquired a new stake in shares of Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new position in shares of Amgen during the 2nd quarter worth approximately $33,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Amgen during the 4th quarter worth approximately $37,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 1.2 %

Amgen stock traded down $3.80 during midday trading on Friday, reaching $320.56. The stock had a trading volume of 2,242,451 shares, compared to its average volume of 2,541,291. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The stock has a market capitalization of $171.96 billion, a PE ratio of 45.79, a price-to-earnings-growth ratio of 2.96 and a beta of 0.58. 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 stock’s 50-day simple moving average is $326.26 and its 200 day simple moving average is $302.12.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the business posted $5.00 EPS. Amgen’s revenue was up 20.1% compared to the same quarter last year. Analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AMGN shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Morgan Stanley reduced their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada lifted their price target on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Argus boosted their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

About Amgen

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.