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

SVB Wealth LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,474 shares of the medical research company’s stock after acquiring an additional 677 shares during the quarter. SVB Wealth LLC’s holdings in Amgen were worth $9,209,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AMGN. Aveo Capital Partners LLC boosted its position in shares of Amgen by 19.9% during the 4th quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after acquiring an additional 453 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in shares of Amgen by 295.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock valued at $1,021,000 after buying an additional 2,752 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Amgen during the 4th quarter valued at about $2,866,000. Calton & Associates Inc. purchased a new position in shares of Amgen during the 4th quarter valued at about $251,000. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of Amgen by 121.4% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 25,893 shares of the medical research company’s stock valued at $7,458,000 after buying an additional 14,200 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 1.2 %

Shares of AMGN traded down $3.80 during mid-day trading on Friday, hitting $320.56. 2,242,451 shares of the company’s stock traded hands, 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. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The firm has a market capitalization of $171.96 billion, a P/E ratio of 45.79, a PEG ratio of 2.96 and a beta of 0.58. The business’s 50-day moving average price is $326.26 and its 200-day moving average price is $302.12.

Amgen (NASDAQ:AMGN) last released 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the prior year, the firm earned $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors 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 equities analysts recently weighed in on the company. Argus raised their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada lifted their price target on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus target price 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.