Amgen Inc. (NASDAQ:AMGN) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,874 shares of the medical research company’s stock after selling 361 shares during the quarter. ProVise Management Group LLC’s holdings in Amgen were worth $5,897,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TCW Group Inc. raised its stake in Amgen by 25.1% during the 4th quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock valued at $50,376,000 after acquiring an additional 35,040 shares during the last quarter. Grassi Investment Management acquired a new position in Amgen in the 1st quarter valued at $2,283,000. Public Employees Retirement System of Ohio lifted its stake in shares of Amgen by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock worth $81,161,000 after acquiring an additional 4,376 shares during the period. Meyer Handelman Co. boosted its holdings in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in shares of Amgen by 1.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock worth $1,388,000 after acquiring an additional 57 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America upped their price target 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. Royal Bank of Canada raised their price objective on shares of 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 lowered their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $327.28.

Amgen Price Performance

Shares of Amgen stock opened at $332.92 on Thursday. The stock 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 current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The business’s fifty day moving average price is $329.22 and its 200 day moving average price is $305.00. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85.

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 firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.00 EPS. As a group, research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

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 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 dividend yield of 2.70%. Amgen’s payout ratio is currently 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.