B. Riley Wealth Advisors Inc. Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

B. Riley Wealth Advisors Inc. cut its position in Amgen Inc. (NASDAQ:AMGN) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,127 shares of the medical research company’s stock after selling 3,080 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Amgen were worth $12,538,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Keynote Financial Services LLC grew its position in Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after buying an additional 30 shares during the last quarter. Ascent Group LLC boosted its stake in shares of Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares in the last quarter. RFP Financial Group LLC boosted its stake in shares of Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after acquiring an additional 32 shares in the last quarter. Hofer & Associates. Inc grew its holdings in shares of Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares during the last quarter. Finally, Blossom Wealth Management raised its position in shares of Amgen by 3.3% during the second quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after purchasing an additional 33 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMGN. Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Argus lifted their target price 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. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.55.

Amgen Price Performance

NASDAQ AMGN opened at $322.67 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $173.09 billion, a PE ratio of 46.10, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The company has a 50 day moving average price of $328.77 and a two-hundred day moving average price of $307.76.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.00 EPS. As a group, equities analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is 128.57%.

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.