SVB Wealth LLC Acquires 677 Shares of Amgen Inc. (NASDAQ:AMGN)

SVB Wealth LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,474 shares of the medical research company’s stock after purchasing an additional 677 shares during the period. SVB Wealth LLC’s holdings in Amgen were worth $9,209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Horizon Financial Services LLC bought a new stake in shares of Amgen during the first quarter valued at approximately $28,000. United Community Bank bought a new position in shares of Amgen in the 4th quarter worth $29,000. nVerses Capital LLC bought a new position in shares of Amgen in the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen in the 2nd quarter worth $33,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of Amgen in the 4th quarter worth $37,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock traded down $3.80 on Friday, hitting $320.56. 2,242,451 shares of the stock were exchanged, compared to its average volume of 2,541,291. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $171.96 billion, a PE ratio of 45.79, a P/E/G ratio of 2.96 and a beta of 0.58. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The firm’s 50 day moving average is $326.26 and its two-hundred day moving average is $302.12.

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

Amgen Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AMGN shares. Oppenheimer reiterated an “outperform” rating and issued a $380.00 target price 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 report on Wednesday, August 7th. Royal Bank of Canada increased their price target on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Argus increased their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen 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.