Amgen Inc. (NASDAQ:AMGN) Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,361 shares of the medical research company’s stock after selling 60 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Amgen were worth $2,925,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AMGN. Provence Wealth Management Group boosted its stake 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 worth $416,000 after buying an additional 154 shares during the period. Kinsale Capital Group Inc. increased its holdings in Amgen by 33.0% in the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after purchasing an additional 2,814 shares during the last quarter. Valley Brook Capital Group Inc. raised its position in Amgen by 7.0% in the fourth quarter. Valley Brook Capital Group Inc. now owns 4,730 shares of the medical research company’s stock valued at $1,362,000 after purchasing an additional 310 shares during the period. Evergreen Wealth Management LLC lifted its stake in 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 in the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in 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 in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research analyst reports. Morgan Stanley cut their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price target (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their price objective on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Mizuho increased their target price on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Finally, Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $326.89.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $333.83 on Friday. Amgen Inc. has a 12 month low of $248.38 and a 12 month high of $346.85. The firm has a market capitalization of $179.38 billion, a P/E ratio of 47.69, a P/E/G ratio of 2.96 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company’s fifty day moving average price is $324.99 and its 200 day moving average price is $300.71.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results 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 firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $5.00 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business 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 of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Amgen 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.