Amgen Inc. (NASDAQ:AMGN) Shares Sold by Tobam

Tobam reduced its position in Amgen Inc. (NASDAQ:AMGN) by 59.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,439 shares of the medical research company’s stock after selling 2,087 shares during the period. Tobam’s holdings in Amgen were worth $450,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMGN. United Community Bank acquired a new position in shares of Amgen during the fourth quarter worth about $29,000. Horizon Financial Services LLC bought a new position in shares of Amgen during the first quarter valued at approximately $28,000. Delos Wealth Advisors LLC grew its holdings in shares of Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the second quarter worth approximately $33,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Amgen during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. TD Cowen boosted their price target on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets upped their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $326.89.

Amgen Trading Up 0.7 %

NASDAQ:AMGN traded up $2.43 during midday trading on Friday, hitting $333.44. 665,460 shares of the company traded hands, compared to its average volume of 2,545,285. The firm’s fifty day moving average is $324.06 and its 200-day moving average is $300.22. The firm has a market capitalization of $178.87 billion, a P/E ratio of 47.69, a P/E/G ratio of 2.78 and a beta of 0.58. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 12-month low of $248.38 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the business posted $5.00 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, sell-side analysts predict that Amgen Inc. will post 19.5 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders 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 2.70%. 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.