Magnus Financial Group LLC Buys 118 Shares of Amgen Inc. (NASDAQ:AMGN)

Magnus Financial Group LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 15.2% during the third quarter, HoldingsChannel.com reports. The fund owned 896 shares of the medical research company’s stock after acquiring an additional 118 shares during the quarter. Magnus Financial Group LLC’s holdings in Amgen were worth $289,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AMGN. Fisher Asset Management LLC grew its stake in Amgen by 4.0% during the fourth quarter. Fisher Asset Management LLC now owns 78,753 shares of the medical research company’s stock worth $22,682,000 after buying an additional 3,049 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Amgen in the 4th quarter worth approximately $3,104,000. Massmutual Trust Co. FSB ADV grew its position in Amgen by 12.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 6,939 shares of the medical research company’s stock worth $1,973,000 after acquiring an additional 787 shares during the last quarter. Farmers Trust Co. increased its holdings in Amgen by 15.9% during the 1st quarter. Farmers Trust Co. now owns 2,295 shares of the medical research company’s stock valued at $653,000 after purchasing an additional 314 shares in the last quarter. Finally, Lynch & Associates IN raised its position in Amgen by 29.8% in the 1st quarter. Lynch & Associates IN now owns 4,594 shares of the medical research company’s stock valued at $1,306,000 after purchasing an additional 1,055 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 0.1 %

Shares of NASDAQ AMGN opened at $325.09 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The company’s fifty day moving average is $325.97 and its 200-day moving average is $311.49. The stock has a market cap of $174.39 billion, a price-to-earnings ratio of 46.44, a P/E/G ratio of 2.86 and a beta of 0.61.

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

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Analyst Ratings Changes

Several brokerages have recently commented on AMGN. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, TD Cowen upped their price objective on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $326.95.

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.