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

IMS Capital Management decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,335 shares of the medical research company’s stock after selling 599 shares during the quarter. IMS Capital Management’s holdings in Amgen were worth $1,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AMGN. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at approximately $26,000. Horizon Financial Services LLC purchased a new position in Amgen in the first quarter worth approximately $28,000. Hershey Financial Advisers LLC acquired a new stake in Amgen during the second quarter worth $30,000. nVerses Capital LLC acquired a new stake in Amgen during the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen in the second quarter valued at $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley decreased their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Finally, Bank of America upped their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $325.55.

Amgen Stock Performance

Shares of AMGN opened at $322.21 on Tuesday. The company has a market capitalization of $172.84 billion, a price-to-earnings ratio of 46.03, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. 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 50 day moving average price of $328.49 and a 200 day moving average price of $308.12.

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 the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the company posted $5.00 EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

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