Lynch & Associates IN Has $1.56 Million Position in Amgen Inc. (NASDAQ:AMGN)

Lynch & Associates IN increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,980 shares of the medical research company’s stock after purchasing an additional 386 shares during the period. Lynch & Associates IN’s holdings in Amgen were worth $1,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC increased its position in shares of Amgen by 19.9% during the 4th quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock worth $786,000 after purchasing an additional 453 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in shares of Amgen by 295.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock valued at $1,021,000 after acquiring an additional 2,752 shares during the last quarter. Calton & Associates Inc. acquired a new position in shares of Amgen in the 4th quarter worth approximately $251,000. Northwest Financial Advisors bought a new stake in Amgen during the 4th quarter worth approximately $80,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Amgen by 6.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 9,238 shares of the medical research company’s stock valued at $2,661,000 after purchasing an additional 584 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. TD Cowen increased their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley lowered their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Royal Bank of Canada upped their target price on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen Stock Performance

Shares of Amgen stock opened at $320.56 on Friday. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $171.96 billion, a PE ratio of 45.79, a PEG ratio of 2.96 and a beta of 0.61. The stock’s fifty day simple moving average is $326.26 and its 200 day simple moving average is $302.25.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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 business had revenue of $8.39 billion during 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%. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.00 earnings per share. On average, research analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

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

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.