Godshalk Welsh Capital Management Inc. increases its position in Amgen Inc. (NASDAQ:AMGN)

Godshalk Welsh Capital Management Inc. increased its position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 14.4% during the second quarter, Holdings Channel reports. The institutional investor owned 995 shares of the medical research company’s stock after purchasing an additional 125 shares during the quarter. Holdings of Godshalk Welsh Capital Management Inc. holdings in Amgen were worth $311,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen in the second quarter valued at approximately $26,000. Horizon Financial Services LLC acquired a new position in Amgen in the first quarter valued at approximately $28,000. United Community Bank purchased a new position in Amgen in the fourth quarter valued at approximately $29,000. nVerses Capital LLC purchased a new position in Amgen in the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Amgen in the second quarter valued at about $33,000. 76.50% of the shares are currently held by hedge funds and other institutional investors.

Amgen trading rose 0.9%

Shares of AMGN opened at $335.95 on Friday. Amgen Inc. it 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 $180.22 billion, a P/E ratio of 47.99, a P/E/G ratio of 2.93 and a beta of 0.61. The company has a fifty day simple moving average of $329.44 and a 200 day simple moving average of $305.22. The company has a quick ratio of 0.89, a current ratio of 1.26, and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s revenue increased by 20.1% year-on-year. During the same period in the prior year, the business earned $5.00 EPS. On average, analysts estimate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a dividend of $9.00 on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Friday, August 16. Amgen’s payout ratio is currently 128.57%.

Analyst upgrades and downgrades

A number of brokerages have recently issued reports on AMGN. Bank of America upped their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Argus upped their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Morgan Stanley reduced their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. TD Cowen boosted 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. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.28, according to MarketBeat.

Get the latest stock analysis on AMGN

Amgen profile

(Free Report)

Amgen Inc discovers, develops, manufactures and delivers human therapies worldwide. The company’s main products include Enbrel for the treatment of plaque psoriasis, rheumatoid arthritis and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis and mouth ulcers associated with Behçet’s disease; Prolia for treating postmenopausal women with osteoporosis; XGEVA for the prevention of skeletal events; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS for treating patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower than normal number of red blood cells and anaemia; EVENITY for the treatment of postmenopausal osteoporosis in men and women; Vectibix for treating patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA for treating thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

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