Nelson Capital Management LLC Has $5.67 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Nelson Capital Management LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,150 shares of the medical research company’s stock after selling 504 shares during the quarter. Amgen accounts for 1.0% of Nelson Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Nelson Capital Management LLC’s holdings in Amgen were worth $5,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Aveo Capital Partners LLC lifted its stake in shares of Amgen by 19.9% in the 4th quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock valued at $786,000 after purchasing an additional 453 shares during the period. Gryphon Financial Partners LLC increased its position in shares of Amgen by 295.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,684 shares of the medical research company’s stock valued at $1,021,000 after buying an additional 2,752 shares in the last quarter. Quotient Wealth Partners LLC bought a new stake in shares of Amgen in the 4th quarter valued at $428,000. Goelzer Investment Management Inc. bought a new stake in shares of Amgen in the 4th quarter valued at $333,000. Finally, Apexium Financial LP increased its position in shares of Amgen by 2.2% in the 4th quarter. Apexium Financial LP now owns 2,740 shares of the medical research company’s stock valued at $789,000 after buying an additional 58 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Argus increased their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America increased 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, Morgan Stanley lowered their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $327.28.

Amgen Trading Up 0.3 %

Shares of NASDAQ:AMGN opened at $329.98 on Thursday. The company has a 50-day simple moving average of $327.34 and a 200 day simple moving average of $303.13. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company has a market capitalization of $177.01 billion, a P/E ratio of 47.14, a price-to-earnings-growth ratio of 2.85 and a beta of 0.61. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) 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 analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business earned $5.00 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.73%. 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.