Pine Valley Investments Ltd Liability Co Sells 237 Shares of Amgen Inc. (NASDAQ:AMGN)

Pine Valley Investments Ltd Liability Co lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.8% during the second quarter, Holdings Channel.com reports. The firm owned 4,752 shares of the medical research company’s stock after selling 237 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Amgen were worth $1,485,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Searle & CO. purchased a new stake in Amgen in the second quarter valued at about $2,256,000. Hantz Financial Services Inc. purchased a new stake in Amgen in the second quarter valued at about $343,000. Arrow Financial Corp raised its stake in Amgen by 36.9% in the second quarter. Arrow Financial Corp now owns 13,065 shares of the medical research company’s stock valued at $4,082,000 after buying an additional 3,524 shares during the last quarter. Kings Path Partners LLC purchased a new stake in Amgen in the second quarter valued at about $1,365,000. Finally, GoalVest Advisory LLC raised its stake in Amgen by 27.0% in the second quarter. GoalVest Advisory LLC now owns 682 shares of the medical research company’s stock valued at $213,000 after buying an additional 145 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.9 %

Shares of AMGN stock opened at $333.83 on Friday. The stock has a 50 day moving average of $324.99 and a 200 day moving average of $300.71. 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 stock has a market cap of $179.08 billion, a P/E ratio of 47.69, a P/E/G ratio of 2.78 and a beta of 0.58. Amgen Inc. has a twelve month low of $248.38 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $8.35 billion. During the same period in the previous year, the business posted $5.00 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, sell-side analysts expect 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. Shareholders of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Analysts Set New Price Targets

A number of equities research analysts have commented on AMGN shares. TD Cowen increased their price target on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley reduced their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Oppenheimer restated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Mizuho raised their price objective on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Finally, Royal Bank of Canada raised their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.89.

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.