AlphaStar Capital Management LLC Has $922,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

AlphaStar Capital Management LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 9.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,950 shares of the medical research company’s stock after selling 318 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Amgen were worth $922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Latitude Advisors LLC bought a new stake in shares of Amgen during the second quarter worth approximately $252,000. Signature Estate & Investment Advisors LLC raised its position in shares of Amgen by 31.7% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 3,645 shares of the medical research company’s stock valued at $1,139,000 after acquiring an additional 878 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Amgen in the 2nd quarter valued at $792,000. Callan Family Office LLC boosted its position in shares of Amgen by 70.6% in the 2nd quarter. Callan Family Office LLC now owns 1,994 shares of the medical research company’s stock worth $623,000 after purchasing an additional 825 shares during the last quarter. Finally, Hyman Charles D grew its stake in shares of Amgen by 1.4% during the second quarter. Hyman Charles D now owns 7,619 shares of the medical research company’s stock worth $2,381,000 after purchasing an additional 105 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the subject of several analyst reports. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Mizuho boosted their target price on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $326.89.

Amgen Stock Up 0.3 %

Amgen stock traded up $1.08 during mid-day trading on Tuesday, reaching $327.86. The company’s stock had a trading volume of 236,421 shares, compared to its average volume of 2,563,757. The business’s 50 day simple moving average is $323.17 and its 200 day simple moving average is $299.76. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. Amgen Inc. has a 12 month low of $248.38 and a 12 month high of $346.85. The company has a market capitalization of $175.88 billion, a price-to-earnings ratio of 46.67, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the firm posted $5.00 EPS. Amgen’s revenue was up 20.1% compared to the same quarter last year. As a group, research analysts anticipate that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is presently 128.57%.

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.