Ignite Planners LLC Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Ignite Planners LLC lifted its stake in Amgen Inc. (NASDAQ:AMGNGet Rating) by 17.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,119 shares of the medical research company’s stock after purchasing an additional 170 shares during the period. Ignite Planners LLC’s holdings in Amgen were worth $276,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMGN. Rational Advisors LLC purchased a new stake in Amgen during the 1st quarter worth about $26,000. Landmark Wealth Management LLC purchased a new stake in Amgen during the 1st quarter worth about $28,000. CKW Financial Group acquired a new stake in shares of Amgen during the first quarter worth about $31,000. Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Amgen during the fourth quarter worth about $33,000. Finally, Lumature Wealth Partners LLC increased its position in shares of Amgen by 51.1% during the first quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock worth $34,000 after purchasing an additional 48 shares in the last quarter. 77.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Atlantic Securities cut their target price on Amgen from $190.00 to $182.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 9th. Piper Sandler lifted their target price on Amgen from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Royal Bank of Canada boosted their price target on Amgen from $224.00 to $236.00 in a research report on Friday, August 5th. Morgan Stanley boosted their price target on Amgen from $239.00 to $253.00 and gave the company an “equal weight” rating in a research report on Friday, July 15th. Finally, StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $241.13.

Insider Activity

In other news, Director R Sanders Williams sold 200 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $249.96, for a total transaction of $49,992.00. Following the transaction, the director now owns 5,301 shares in the company, valued at approximately $1,325,037.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director R Sanders Williams sold 200 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $249.96, for a total transaction of $49,992.00. Following the transaction, the director now owns 5,301 shares in the company, valued at approximately $1,325,037.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Eckert sold 6,600 shares of Amgen stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $249.00, for a total transaction of $1,643,400.00. Following the completion of the transaction, the director now owns 21,184 shares in the company, valued at approximately $5,274,816. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded down $1.44 during trading hours on Friday, hitting $226.31. The stock had a trading volume of 52,906 shares, compared to its average volume of 2,761,167. Amgen Inc. has a 1-year low of $198.64 and a 1-year high of $258.45. The company has a debt-to-equity ratio of 14.76, a quick ratio of 1.17 and a current ratio of 1.53. The firm has a market capitalization of $121.06 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.81 and a beta of 0.56. The stock’s fifty day simple moving average is $243.40 and its 200 day simple moving average is $243.35.

Amgen (NASDAQ:AMGNGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The medical research company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.40 by $0.25. Amgen had a net margin of 24.92% and a return on equity of 218.34%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same quarter in the previous year, the business posted $4.38 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 17.45 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were issued a dividend of $1.94 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $7.76 dividend on an annualized basis and a dividend yield of 3.43%. Amgen’s dividend payout ratio is currently 65.76%.

Amgen Company Profile

(Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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