Alaethes Wealth LLC Has $1.43 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Alaethes Wealth LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 14.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,563 shares of the medical research company’s stock after selling 773 shares during the quarter. Alaethes Wealth LLC’s holdings in Amgen were worth $1,426,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Transatlantique Private Wealth LLC lifted its position in shares of Amgen by 15.3% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 3,469 shares of the medical research company’s stock worth $1,084,000 after acquiring an additional 460 shares during the period. Summit Trail Advisors LLC lifted its position in Amgen by 4.5% in the second quarter. Summit Trail Advisors LLC now owns 5,389 shares of the medical research company’s stock worth $1,684,000 after purchasing an additional 231 shares during the period. Thrivent Financial for Lutherans boosted its stake in Amgen by 6.1% during the second quarter. Thrivent Financial for Lutherans now owns 625,305 shares of the medical research company’s stock worth $195,377,000 after buying an additional 36,019 shares in the last quarter. Sei Investments Co. increased its holdings in Amgen by 1.4% in the 2nd quarter. Sei Investments Co. now owns 379,688 shares of the medical research company’s stock valued at $118,627,000 after buying an additional 5,264 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Amgen by 8.9% in the 2nd quarter. Pacer Advisors Inc. now owns 74,039 shares of the medical research company’s stock valued at $23,133,000 after buying an additional 6,048 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMGN shares. Oppenheimer reiterated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. TD Cowen upped their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Royal Bank of Canada boosted their price target on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley dropped their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Stock Performance

Shares of Amgen stock opened at $337.38 on Friday. 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 firm has a 50 day simple moving average of $329.57 and a 200 day simple moving average of $305.62. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The firm has a market cap of $180.98 billion, a P/E ratio of 48.20, a P/E/G ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’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 EPS. Sell-side analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is 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.