Amgen Inc. (NASDAQ:AMGN) Shares Sold by Kendall Capital Management

Kendall Capital Management decreased its position in Amgen Inc. (NASDAQ:AMGN) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,110 shares of the medical research company’s stock after selling 416 shares during the quarter. Kendall Capital Management’s holdings in Amgen were worth $1,284,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMGN. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the 2nd quarter worth approximately $26,000. Horizon Financial Services LLC bought a new stake in shares of Amgen in the 1st quarter worth approximately $28,000. United Community Bank bought a new stake in shares of Amgen in the 4th quarter worth approximately $29,000. nVerses Capital LLC bought a new stake in shares of Amgen in the 2nd quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen in the 2nd quarter worth approximately $33,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.0 %

AMGN opened at $332.92 on Thursday. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock’s fifty day moving average is $329.22 and its 200-day moving average is $305.00. The company has a market capitalization of $178.59 billion, a PE ratio of 47.56, a P/E/G ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The company had revenue of $8.39 billion during 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 business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.00 earnings per share. On average, equities analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMGN. Argus raised their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. TD Cowen lifted their target price on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Bank of America lifted their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

About Amgen

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.