Providence Wealth Advisors LLC Acquires 120 Shares of Amgen Inc. (NASDAQ:AMGN)

Providence Wealth Advisors LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,411 shares of the medical research company’s stock after buying an additional 120 shares during the period. Amgen makes up about 1.4% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Providence Wealth Advisors LLC’s holdings in Amgen were worth $1,701,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Thompson Siegel & Walmsley LLC grew its position in Amgen by 49.4% during the second quarter. Thompson Siegel & Walmsley LLC now owns 38,677 shares of the medical research company’s stock worth $12,085,000 after buying an additional 12,784 shares in the last quarter. Hanson & Doremus Investment Management grew its holdings in shares of Amgen by 3.6% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,592 shares of the medical research company’s stock worth $497,000 after purchasing an additional 55 shares in the last quarter. Seven Mile Advisory raised its stake in shares of Amgen by 15.3% in the second quarter. Seven Mile Advisory now owns 852 shares of the medical research company’s stock valued at $266,000 after purchasing an additional 113 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in Amgen by 48.8% in the second quarter. J.W. Cole Advisors Inc. now owns 14,313 shares of the medical research company’s stock worth $4,472,000 after purchasing an additional 4,697 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Amgen by 8.2% during the second quarter. Envestnet Asset Management Inc. now owns 1,408,785 shares of the medical research company’s stock worth $440,175,000 after buying an additional 107,134 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of AMGN stock opened at $332.45 on Friday. The firm has a market cap of $178.64 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 2.93 and a beta of 0.61. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. 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 stock has a 50-day moving average price of $328.18 and a 200 day moving average price of $303.82.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the prior year, the firm earned $5.00 EPS. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. Research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.71%. Amgen’s dividend payout ratio is currently 128.57%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AMGN shares. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. TD Cowen lifted their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley dropped their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Argus increased their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.28.

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.