IFG Advisory LLC lessened its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,548 shares of the medical research company’s stock after selling 152 shares during the quarter. IFG Advisory LLC’s holdings in Amgen were worth $2,984,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Provence Wealth Management Group boosted its position in Amgen by 11.9% during the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after buying an additional 154 shares during the period. Kinsale Capital Group Inc. boosted its holdings in shares of Amgen by 33.0% during the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after purchasing an additional 2,814 shares during the period. Valley Brook Capital Group Inc. boosted its holdings in shares of Amgen by 7.0% during the fourth quarter. Valley Brook Capital Group Inc. now owns 4,730 shares of the medical research company’s stock worth $1,362,000 after purchasing an additional 310 shares during the period. Evergreen Wealth Management LLC boosted its holdings in shares of Amgen by 1.7% during the fourth quarter. Evergreen Wealth Management LLC now owns 4,892 shares of the medical research company’s stock worth $1,409,000 after purchasing an additional 84 shares during the period. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of Amgen by 11.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 15,362 shares of the medical research company’s stock worth $4,425,000 after purchasing an additional 1,518 shares during the period. Institutional investors own 76.50% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on AMGN. BMO Capital Markets increased their target price on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. UBS Group raised their target price on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Finally, Morgan Stanley reduced their price target 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. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.89.
Amgen Stock Performance
AMGN stock traded up $2.82 on Friday, hitting $333.83. The company had a trading volume of 2,173,548 shares, compared to its average volume of 2,554,402. Amgen Inc. has a 12-month low of $248.38 and a 12-month high of $346.85. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The stock’s 50-day simple moving average is $324.99 and its 200 day simple moving average is $300.71. The stock has a market cap of $179.08 billion, a price-to-earnings ratio of 47.69, a P/E/G ratio of 2.78 and a beta of 0.58.
Amgen (NASDAQ:AMGN – Get Free Report) last issued 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 business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.00 EPS. As a group, equities research analysts expect that Amgen Inc. will post 19.5 earnings per share for the current fiscal year.
Amgen Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Friday, August 16th. Amgen’s dividend 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.
Featured Stories
- Five stocks we like better than Amgen
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- Birkenstock’s Sudden Slide—Why It Might Be Your Next Big Win
- What Makes a Stock a Good Dividend Stock?
- Why Dell Can Continue Winning in AI and Beyond
- What is the S&P 500 and How It is Distinct from Other Indexes
- Veeva’s Stock Jumps on Stellar Q2 Results—Don’t Miss Out
Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN – Free Report).
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.