Focus Financial Network Inc. Has $2.08 Million Position in Amgen Inc. (NASDAQ:AMGN)

Focus Financial Network Inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,195 shares of the medical research company’s stock after buying an additional 522 shares during the quarter. Focus Financial Network Inc.’s holdings in Amgen were worth $2,080,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMGN. Capital International Investors grew its position in 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 buying an additional 5,923,915 shares in the last quarter. Norges Bank acquired a new stake in Amgen during the fourth quarter worth approximately $1,556,912,000. Vanguard Group Inc. grew its position in Amgen by 6.2% during 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 buying an additional 3,045,657 shares in the last quarter. Janus Henderson Group PLC grew 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 worth $676,984,000 after buying an additional 1,377,007 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its position in 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 worth $236,924,000 after buying an additional 830,405 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 0.2 %

NASDAQ:AMGN traded up $0.61 during trading hours on Wednesday, hitting $329.16. 256,296 shares of the company were exchanged, compared to its average volume of 2,585,024. The stock has a market capitalization of $176.57 billion, a price-to-earnings ratio of 46.94, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a one year low of $248.38 and a one year high of $346.85. The company has a fifty day simple moving average of $321.01 and a 200 day simple moving average of $299.19.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.00 earnings per share. Sell-side analysts expect that Amgen Inc. will post 19.5 EPS for the current fiscal year.

Amgen Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Royal Bank of Canada upped their target price on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America upped their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.89.

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.