Amgen Inc. (NASDAQ:AMGN) Holdings Decreased by Transform Wealth LLC

Transform Wealth LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,220 shares of the medical research company’s stock after selling 47 shares during the period. Transform Wealth LLC’s holdings in Amgen were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Amgen during the 4th quarter valued at approximately $32,880,000. Sapient Capital LLC bought a new position in shares of Amgen during the fourth quarter worth about $946,000. Tennessee Valley Asset Management Partners bought a new position in shares of Amgen during the fourth quarter worth about $79,000. Crestwood Advisors Group LLC increased its holdings in shares of Amgen by 0.9% in the 4th quarter. Crestwood Advisors Group LLC now owns 9,012 shares of the medical research company’s stock worth $2,596,000 after acquiring an additional 82 shares during the period. Finally, WCM Investment Management LLC bought a new stake in Amgen in the 4th quarter valued at about $336,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN opened at $320.00 on Tuesday. Amgen Inc. has a 1 year low of $248.38 and a 1 year high of $346.85. The business’s fifty day moving average is $318.64 and its two-hundred day moving average is $298.86. The stock has a market capitalization of $171.66 billion, a P/E ratio of 45.71, a P/E/G ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

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). Amgen had a return on equity of 156.21% and a net margin of 12.74%. 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 firm earned $5.00 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. On average, research analysts forecast that Amgen Inc. will post 19.5 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders 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 yield of 2.81%. 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

AMGN has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Wells Fargo & Company lowered 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 report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Morgan Stanley decreased their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $326.89.

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.