Marcum Wealth LLC Increases Stake in Amgen Inc. (NASDAQ:AMGN)

Marcum Wealth LLC increased its holdings in Amgen Inc. (NASDAQ:AMGNGet Rating) by 10.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,288 shares of the medical research company’s stock after buying an additional 213 shares during the quarter. Marcum Wealth LLC’s holdings in Amgen were worth $557,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMGN. Rational Advisors LLC acquired a new position in Amgen in the 1st quarter worth approximately $26,000. Landmark Wealth Management LLC acquired a new stake in shares of Amgen during the 1st quarter worth approximately $28,000. CKW Financial Group acquired a new stake in shares of Amgen during the 1st quarter worth approximately $31,000. Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $33,000. Finally, Lumature Wealth Partners LLC grew its stake in shares of Amgen by 51.1% during the 1st 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 during the period. Institutional investors and hedge funds own 77.14% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 8th. Royal Bank of Canada increased their target price on Amgen from $224.00 to $236.00 in a research report on Friday, August 5th. TheStreet upgraded Amgen from a “c+” rating to a “b” rating in a research report on Monday, August 15th. Oppenheimer restated an “outperform” rating and issued a $290.00 price objective on shares of Amgen in a report on Wednesday, September 14th. Finally, Atlantic Securities reduced their price target on Amgen from $190.00 to $182.00 and set an “underweight” rating on the stock in a report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $241.13.

Amgen Stock Up 1.5 %

Amgen stock opened at $227.75 on Friday. 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 $121.83 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.81 and a beta of 0.56. Amgen Inc. has a fifty-two week low of $198.64 and a fifty-two week high of $258.45. The stock’s fifty day moving average is $243.40 and its two-hundred day moving average is $243.35.

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

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were given a $1.94 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $7.76 annualized dividend and a dividend yield of 3.41%. Amgen’s dividend payout ratio is currently 65.76%.

Amgen Profile

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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.

Further Reading

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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