Park Place Capital Corp Sells 633 Shares of Amgen Inc. (NASDAQ:AMGN)

Park Place Capital Corp cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 23.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,050 shares of the medical research company’s stock after selling 633 shares during the period. Park Place Capital Corp’s holdings in Amgen were worth $660,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Grassi Investment Management bought a new position in Amgen during the first quarter valued at $2,283,000. Public Employees Retirement System of Ohio lifted its stake in shares of Amgen by 1.6% during 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 last quarter. Meyer Handelman Co. boosted its holdings in Amgen by 7.2% during the 2nd 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 during the period. Chicago Partners Investment Group LLC grew its position in Amgen by 1.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock valued at $1,388,000 after acquiring an additional 57 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. purchased a new stake in Amgen in the fourth quarter worth $803,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.4 %

NASDAQ AMGN traded up $1.14 during trading on Tuesday, hitting $318.59. The company’s stock had a trading volume of 294,514 shares, compared to its average volume of 2,477,307. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a market cap of $170.90 billion, a PE ratio of 45.37, a P/E/G ratio of 2.98 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The business’s 50 day simple moving average is $326.97 and its 200-day simple moving average is $309.76.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company 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% on a year-over-year basis. During the same period in the prior year, the firm posted $5.00 EPS. On average, equities analysts anticipate 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. Investors of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMGN. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Argus raised 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. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Bank of America upped their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $326.30.

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.