Oppenheimer & Co. Inc. Acquires 2,483 Shares of Amgen Inc. (NASDAQ:AMGN)

Oppenheimer & Co. Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,638 shares of the medical research company’s stock after purchasing an additional 2,483 shares during the quarter. Amgen comprises about 0.6% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 19th biggest position. Oppenheimer & Co. Inc.’s holdings in Amgen were worth $38,631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AMGN. Strategic Financial Concepts LLC acquired a new stake in Amgen in the 2nd quarter worth $26,000. Horizon Financial Services LLC bought a new stake in Amgen during the first quarter worth about $28,000. United Community Bank bought a new stake in Amgen during the fourth quarter worth about $29,000. nVerses Capital LLC acquired a new position in shares of Amgen during the second quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the second quarter worth approximately $33,000. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Argus increased their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Morgan Stanley cut their price objective 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. Bank of America increased their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. TD Cowen increased their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note 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 data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen Price Performance

AMGN stock opened at $330.06 on Friday. 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 12 month low of $249.70 and a 12 month high of $346.85. The firm has a market cap of $177.06 billion, a P/E ratio of 47.15, a P/E/G ratio of 2.85 and a beta of 0.61. The company’s 50-day moving average price is $327.75 and its two-hundred day moving average price is $303.32.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.