Amgen Inc. (NASDAQ:AMGN) Shares Sold by Denver PWM LLC

Denver PWM LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 813 shares of the medical research company’s stock after selling 126 shares during the quarter. Denver PWM LLC’s holdings in Amgen were worth $254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Kinsale Capital Group Inc. increased its holdings in shares of Amgen by 33.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after purchasing an additional 2,814 shares in the last quarter. TCW Group Inc. lifted its position in shares of Amgen by 25.1% in the fourth quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock valued at $50,376,000 after acquiring an additional 35,040 shares in the last quarter. Grassi Investment Management purchased a new stake in shares of Amgen during the first quarter worth $2,283,000. 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 during the last quarter. Finally, Principal Securities Inc. purchased a new position in Amgen during the fourth quarter worth approximately $2,866,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN stock opened at $324.36 on Friday. The company has a market capitalization of $174.00 billion, a P/E ratio of 46.34, 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 company has a 50-day simple moving average of $326.10 and a 200 day simple moving average of $301.86. Amgen Inc. has a fifty-two week low of $248.38 and a fifty-two week high of $346.85.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. Amgen’s dividend payout ratio is 128.57%.

Analyst Ratings Changes

A number of equities research analysts have commented on AMGN shares. Royal Bank of Canada lifted their target price on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Argus lifted their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Morgan Stanley lowered their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. TD Cowen lifted their price target on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.