Seven Mile Advisory Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Seven Mile Advisory purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the first quarter, HoldingsChannel reports. The institutional investor purchased 891 shares of the medical research company’s stock, valued at approximately $278,000.

Other large investors also recently made changes to their positions in the company. Beck Mack & Oliver LLC raised its position in shares of Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after buying an additional 34 shares during the period. Continuum Advisory LLC raised its position in shares of Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock worth $1,343,000 after buying an additional 35 shares during the period. Octavia Wealth Advisors LLC raised its position in shares of Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock worth $759,000 after buying an additional 35 shares during the period. Affinity Capital Advisors LLC raised its position in shares of Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock worth $246,000 after buying an additional 37 shares during the period. Finally, Accredited Investors Inc. raised its position in shares of Amgen by 1.7% in the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock worth $674,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective on the stock. Bank of America raised their price objective on Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research report on Wednesday, July 23rd. Finally, Citigroup raised their price objective on Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $303.76.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.76% of the company’s stock.

Amgen Stock Up 2.1%

Shares of Amgen stock opened at $296.47 on Friday. The business has a 50-day moving average of $293.30 and a 200-day moving average of $293.04. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market capitalization of $159.61 billion, a PE ratio of 24.24, a P/E/G ratio of 2.55 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $4.97 earnings per share. As a group, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is 77.84%.

Amgen Company Profile

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.