Commonwealth Retirement Investments LLC Invests $1.95 Million in Amgen Inc. (NASDAQ:AMGN)

Commonwealth Retirement Investments LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,244 shares of the medical research company’s stock, valued at approximately $1,951,000.

A number of other hedge funds also recently bought and sold shares of the company. Capital International Investors raised its stake in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Norges Bank bought a new stake in Amgen in the fourth quarter worth $1,556,912,000. Vanguard Group Inc. lifted its stake in Amgen by 6.2% in 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 purchasing an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC boosted its position in 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 valued at $676,984,000 after buying an additional 1,377,007 shares during the period. Finally, Capital Wealth Planning LLC grew its stake 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 valued at $236,924,000 after buying an additional 830,405 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Morgan Stanley lowered their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Finally, Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average price target of $327.28.

Amgen Stock Down 1.2 %

Shares of NASDAQ:AMGN opened at $320.56 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The firm has a market capitalization of $171.96 billion, a P/E ratio of 45.79, a P/E/G ratio of 2.96 and a beta of 0.58. The stock has a 50 day moving average price of $326.26 and a 200-day moving average price of $302.12.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm 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 posted $5.00 EPS. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

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

About Amgen

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.