IFG Advisory LLC Sells 152 Shares of Amgen Inc. (NASDAQ:AMGN)

IFG Advisory LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) 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) 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.