First Dallas Securities Inc. Has $2.95 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

First Dallas Securities Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 16.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,449 shares of the medical research company’s stock after selling 1,804 shares during the quarter. Amgen comprises 1.3% of First Dallas Securities Inc.’s portfolio, making the stock its 22nd biggest holding. First Dallas Securities Inc.’s holdings in Amgen were worth $2,952,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AMGN. Kinsale Capital Group Inc. grew its position in Amgen by 33.0% in the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after purchasing an additional 2,814 shares during the last quarter. Van Hulzen Asset Management LLC lifted its stake in shares of Amgen by 0.8% in the fourth quarter. Van Hulzen Asset Management LLC now owns 13,495 shares of the medical research company’s stock valued at $3,887,000 after buying an additional 102 shares during the period. TCW Group Inc. grew its position in Amgen by 25.1% during the fourth quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock worth $50,376,000 after buying an additional 35,040 shares in the last quarter. Grassi Investment Management bought a new position in Amgen during the first quarter valued at about $2,283,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Amgen by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock valued at $81,161,000 after acquiring an additional 4,376 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Finally, Bank of America lifted their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.89.

Amgen Trading Down 1.7 %

AMGN stock traded down $5.53 during trading on Thursday, hitting $325.11. The company had a trading volume of 232,883 shares, compared to its average volume of 2,532,837. The stock has a market cap of $174.40 billion, a price-to-earnings ratio of 47.23, a PEG ratio of 2.96 and a beta of 0.58. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm has a 50-day moving average price of $325.89 and a 200-day moving average price of $301.70. Amgen Inc. has a 12 month low of $248.38 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.00 earnings per share. As a group, analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 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.