Capital Wealth Planning LLC Has $383.07 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Capital Wealth Planning LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 47.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,226,027 shares of the medical research company’s stock after buying an additional 392,727 shares during the quarter. Amgen makes up 4.0% of Capital Wealth Planning LLC’s portfolio, making the stock its 12th largest position. Capital Wealth Planning LLC owned 0.23% of Amgen worth $383,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Aveo Capital Partners LLC increased its position in Amgen by 19.9% in the fourth 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 during the period. Gryphon Financial Partners LLC increased its position in Amgen by 295.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock worth $1,021,000 after purchasing an additional 2,752 shares during the period. Level Four Advisory Services LLC increased its position in Amgen by 2.6% in the fourth quarter. Level Four Advisory Services LLC now owns 3,958 shares of the medical research company’s stock worth $1,140,000 after purchasing an additional 100 shares during the period. MainStreet Investment Advisors LLC increased its position in Amgen by 5.1% in the fourth quarter. MainStreet Investment Advisors LLC now owns 3,256 shares of the medical research company’s stock worth $938,000 after purchasing an additional 158 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in Amgen by 49.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 970 shares of the medical research company’s stock worth $279,000 after buying an additional 320 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ:AMGN opened at $332.45 on Monday. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a market cap of $178.64 billion, a P/E ratio of 47.49, a P/E/G ratio of 2.93 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock’s 50-day simple moving average is $328.18 and its 200 day simple moving average is $304.00.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 161.72% and a net margin of 10.12%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned $5.00 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. TD Cowen raised their target price on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada raised their target price on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus target price 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.