Mascoma Wealth Management LLC Has $316,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Mascoma Wealth Management LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 44.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,010 shares of the medical research company’s stock after selling 823 shares during the period. Mascoma Wealth Management LLC’s holdings in Amgen were worth $316,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group reiterated 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. Mizuho increased their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $320.00 to $335.00 in a research note 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 research report on Thursday, June 27th. Finally, TD Cowen lifted their target price on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $326.89.

Amgen Stock Down 1.0 %

AMGN opened at $330.51 on Wednesday. The stock’s fifty day simple moving average is $325.53 and its 200 day simple moving average is $301.50. Amgen Inc. has a 1-year low of $248.38 and a 1-year high of $346.85. The stock has a market cap of $177.30 billion, a PE ratio of 47.22, a price-to-earnings-growth 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 (NASDAQ:AMGN) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $5.00 earnings per share. As a group, research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend 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.