Oppenheimer Asset Management Inc. Sells 7,164 Shares of Amgen Inc. (NASDAQ:AMGN)

Oppenheimer Asset Management Inc. cut its position in Amgen Inc. (NASDAQ:AMGN) by 55.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,857 shares of the medical research company’s stock after selling 7,164 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Amgen were worth $1,830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC increased its holdings in shares of Amgen by 50.3% during the second quarter. Thoroughbred Financial Services LLC now owns 13,024 shares of the medical research company’s stock worth $4,069,000 after purchasing an additional 4,359 shares during the period. Parallel Advisors LLC increased its stake in Amgen by 0.8% during the 2nd quarter. Parallel Advisors LLC now owns 9,210 shares of the medical research company’s stock worth $2,878,000 after acquiring an additional 70 shares during the period. Westover Capital Advisors LLC acquired a new position in Amgen in the 2nd quarter valued at $746,000. HBK Sorce Advisory LLC lifted its position in shares of Amgen by 6.4% during the 2nd quarter. HBK Sorce Advisory LLC now owns 12,958 shares of the medical research company’s stock valued at $4,049,000 after acquiring an additional 780 shares during the period. Finally, Zions Bancorporation N.A. grew its holdings in shares of Amgen by 3.3% during the 2nd quarter. Zions Bancorporation N.A. now owns 22,827 shares of the medical research company’s stock worth $7,132,000 after purchasing an additional 720 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN stock opened at $332.92 on Thursday. The company has a market capitalization of $178.59 billion, a P/E ratio of 47.56, a PEG ratio of 2.93 and a beta of 0.61. The company has a fifty day moving average price of $329.22 and a 200-day moving average price of $305.00. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its 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 company 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 firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.00 earnings per share. As a group, equities analysts expect 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. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.70%. Amgen’s payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Argus increased their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Royal Bank of Canada boosted their price objective on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Finally, TD Cowen boosted their price target on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.28.

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.