SYSTM Wealth Solutions LLC Has $43,000 Position in Amgen Inc. (NASDAQ:AMGN)

SYSTM Wealth Solutions LLC cut its stake in Amgen Inc. (NASDAQ:AMGN) by 98.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137 shares of the medical research company’s stock after selling 9,922 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Amgen were worth $43,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMGN. Strategic Financial Concepts LLC bought a new position in shares of Amgen during the second quarter worth $26,000. Horizon Financial Services LLC bought a new position in Amgen during the first quarter worth about $28,000. United Community Bank bought a new position in Amgen during the fourth quarter worth about $29,000. nVerses Capital LLC acquired a new position in Amgen in the second quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen in the second quarter worth about $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 0.9 %

Shares of NASDAQ:AMGN opened at $335.95 on Friday. The company has a 50-day simple moving average of $329.44 and a 200 day simple moving average of $305.22. The company has a market capitalization of $180.22 billion, a P/E ratio of 47.99, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61. 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 issued 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the prior year, the firm posted $5.00 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMGN shares. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. TD Cowen increased their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.