Motiv8 Investments LLC Buys 408 Shares of Amgen Inc. (NASDAQ:AMGN)

Motiv8 Investments LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 18.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,563 shares of the medical research company’s stock after purchasing an additional 408 shares during the quarter. Motiv8 Investments LLC’s holdings in Amgen were worth $801,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after buying an additional 3,045,657 shares during the period. Capital International Investors boosted its position in Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after buying an additional 5,923,915 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Amgen by 3.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after buying an additional 243,720 shares during the period. Royal Bank of Canada boosted its position in Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after buying an additional 751,947 shares during the period. Finally, Norges Bank acquired a new stake in Amgen during the 4th quarter worth approximately $1,556,912,000. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Bank of America boosted their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Finally, TD Cowen boosted their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen Stock Down 1.2 %

AMGN traded down $3.80 during trading on Friday, hitting $320.56. 2,242,451 shares of the company’s stock were exchanged, 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. The business’s 50 day moving average is $326.26 and its two-hundred day moving average is $302.12. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The stock has a market cap of $171.96 billion, a P/E ratio of 45.79, a PEG ratio of 2.96 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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). The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.00 EPS. As a group, equities analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

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.