Mount Yale Investment Advisors LLC Has $923,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Mount Yale Investment Advisors LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 48.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,954 shares of the medical research company’s stock after selling 2,742 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Amgen were worth $923,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. United Community Bank bought a new stake in Amgen during the fourth quarter worth $29,000. Horizon Financial Services LLC bought a new stake in shares of Amgen during the 1st quarter worth $28,000. nVerses Capital LLC acquired a new stake in Amgen in the second quarter valued at about $31,000. Bbjs Financial Advisors LLC bought a new position in Amgen in the second quarter valued at about $33,000. Finally, FSA Wealth Management LLC raised its stake in Amgen by 182.0% during the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMGN shares. Argus raised their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Morgan Stanley cut their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Stock Performance

NASDAQ:AMGN opened at $337.38 on Monday. The company has a market capitalization of $180.98 billion, a PE ratio of 48.20, a P/E/G ratio of 2.93 and a beta of 0.61. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company has a 50 day simple moving average of $329.57 and a two-hundred day simple moving average of $306.03.

Amgen (NASDAQ:AMGN) last announced 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%. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.00 EPS. Research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

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