Hoxton Planning & Management LLC Invests $302,000 in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Hoxton Planning & Management LLC purchased 968 shares of Amgen Inc., valued at approximately $302,000, as per their latest 13F filing with the SEC.
• Multiple institutional investors, including Beck Mack & Oliver LLC and Affinity Capital Advisors LLC, have increased their stakes in Amgen, reflecting a strong interest in the company's stock.
• Amgen reported a quarterly earnings per share (EPS) of $4.90, exceeding analysts' expectations, with revenue up 9.4% year-over-year to $8.15 billion.

Hoxton Planning & Management LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 968 shares of the medical research company's stock, valued at approximately $302,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new position in shares of Amgen during the 4th quarter valued at about $26,000. First Pacific Financial boosted its holdings in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares during the period. Heck Capital Advisors LLC purchased a new position in Amgen in the 4th quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC boosted its holdings in Amgen by 46.9% in the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Up 0.6%

Shares of NASDAQ:AMGN traded up $1.78 during midday trading on Friday, reaching $296.88. The company had a trading volume of 2,410,860 shares, compared to its average volume of 1,708,073. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The firm has a market cap of $159.63 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49. The company has a fifty day simple moving average of $292.04 and a two-hundred day simple moving average of $292.03.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period last year, the company posted $3.96 EPS. The business's quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen's dividend payout ratio (DPR) is presently 86.86%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMGN shares. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. UBS Group raised their price objective on Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Bank of America raised their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada dropped their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $307.27.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.76% of the stock is owned by company insiders.

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.