Amgen Inc. (NASDAQ:AMGN) Stock Holdings Lowered by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its position in Amgen Inc. (NASDAQ:AMGN) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 109,752 shares of the medical research company’s stock after selling 11,418 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Amgen were worth $34,292,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors grew its position in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares in the last quarter. Norges Bank acquired a new position in shares of Amgen during the 4th quarter valued at about $1,556,912,000. Vanguard Group Inc. raised its stake in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after acquiring an additional 3,045,657 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after acquiring an additional 1,377,007 shares in the last quarter. Finally, Capital Wealth Planning LLC lifted its holdings in Amgen by 28,684.1% in the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after purchasing an additional 830,405 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN traded up $0.49 during trading hours on Tuesday, hitting $327.27. 647,974 shares of the company’s stock traded hands, compared to its average volume of 2,566,251. Amgen Inc. has a 52 week low of $248.38 and a 52 week high of $346.85. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The firm has a market capitalization of $175.56 billion, a P/E ratio of 46.67, a P/E/G ratio of 2.78 and a beta of 0.58. The business’s fifty day moving average price is $323.17 and its two-hundred day moving average price is $299.76.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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). Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the company earned $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. Equities research analysts predict that Amgen Inc. will post 19.5 EPS for the current 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 given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent analyst reports. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $230.00 to $300.00 in a research report on Friday, May 3rd. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Royal Bank of Canada upped their price target on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America raised their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $326.89.

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.