MRA Advisory Group Invests $288,000 in Amgen Inc. (NASDAQ:AMGN)

MRA Advisory Group acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, HoldingsChannel reports. The firm acquired 921 shares of the medical research company’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Arlington Trust Co LLC grew its stake in shares of Amgen by 47.3% during the 2nd quarter. Arlington Trust Co LLC now owns 2,865 shares of the medical research company’s stock worth $895,000 after acquiring an additional 920 shares during the period. Caprock Group LLC lifted its holdings in Amgen by 69.5% during the second quarter. Caprock Group LLC now owns 15,407 shares of the medical research company’s stock valued at $4,814,000 after purchasing an additional 6,319 shares during the last quarter. Lynch & Associates IN boosted its position in Amgen by 8.4% during the second quarter. Lynch & Associates IN now owns 4,980 shares of the medical research company’s stock worth $1,556,000 after purchasing an additional 386 shares during the period. Certuity LLC raised its position in shares of Amgen by 72.7% in the second quarter. Certuity LLC now owns 2,249 shares of the medical research company’s stock valued at $703,000 after purchasing an additional 947 shares during the period. Finally, Kerusso Capital Management LLC bought a new stake in shares of Amgen in the second quarter valued at approximately $3,123,000. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 1.2 %

Shares of AMGN opened at $320.56 on Friday. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $326.26 and a two-hundred day simple moving average of $302.25. The firm has a market cap of $171.96 billion, a P/E ratio of 45.79, a P/E/G ratio of 2.96 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the company posted $5.00 EPS. On average, analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on AMGN. TD Cowen lifted their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Argus boosted their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Royal Bank of Canada raised their target price on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Finally, Morgan Stanley lowered their price target 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. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.