Torray Investment Partners LLC Grows Stake in Amgen Inc. (NASDAQ:AMGN)

Torray Investment Partners LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 0.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 15,257 shares of the medical research company’s stock after acquiring 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 SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AMGN. Capital International Investors raised its position in Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Norges Bank purchased a new position in Amgen in the fourth quarter valued at about $1,556,912,000. Vanguard Group Inc. increased its position in shares of Amgen by 6.2% during the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after acquiring an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after acquiring an additional 1,377,007 shares during the last quarter. Finally, Capital Wealth Planning LLC increased its position in shares of Amgen by 28,684.1% during the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after acquiring an additional 830,405 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

AMGN stock traded down $3.80 during midday trading on Friday, reaching $320.56. The company had a trading volume of 2,242,451 shares, compared to its average volume of 2,541,291. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The stock has a 50 day moving average price of $326.26 and a 200 day moving average price of $302.12. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. 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 (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS 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 company 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 firm earned $5.00 earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. Analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.81%. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AMGN shares. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Argus lifted their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company 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.