Lederer & Associates Investment Counsel CA Has $2.20 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Lederer & Associates Investment Counsel CA cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,053 shares of the medical research company’s stock after selling 350 shares during the quarter. Amgen makes up 1.6% of Lederer & Associates Investment Counsel CA’s holdings, making the stock its 15th biggest holding. Lederer & Associates Investment Counsel CA’s holdings in Amgen were worth $2,204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Keynote Financial Services LLC increased its holdings in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares during the period. RFP Financial Group LLC raised its holdings in shares of Amgen by 17.1% in the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 32 shares in the last quarter. Hofer & Associates. Inc boosted its position in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after acquiring an additional 32 shares during the last quarter. Blossom Wealth Management boosted its position in shares of Amgen by 3.3% during the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 33 shares during the last quarter. Finally, Legacy Capital Group California Inc. raised its stake in Amgen by 1.1% in the second quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock valued at $955,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.6 %

NASDAQ:AMGN opened at $328.67 on Wednesday. The company has a 50-day moving average price of $325.53 and a 200-day moving average price of $301.50. The stock has a market cap of $176.31 billion, a price-to-earnings ratio of 47.22, a P/E/G ratio of 2.96 and a beta of 0.58. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12 month low of $248.38 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business earned $5.00 earnings per share. Equities analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.74%. Amgen’s payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Argus upped their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. TD Cowen lifted their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley reduced their target price on shares of 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 twelve have issued a buy rating to the company. According to data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $326.89.

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.