Alaethes Wealth LLC Has $1.43 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Alaethes Wealth LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 14.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,563 shares of the medical research company’s stock after selling 773 shares during the period. Alaethes Wealth LLC’s holdings in Amgen were worth $1,426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors raised its position in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Vanguard Group Inc. increased its stake in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after buying an additional 1,377,007 shares during the period. Capital Wealth Planning LLC lifted its stake in Amgen by 28,684.1% in the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after buying an additional 830,405 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Amgen by 14.8% in the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after buying an additional 751,947 shares during the period. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMGN shares. Argus boosted their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Jefferies Financial Group reissued 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. 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. Finally, Oppenheimer reiterated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $327.28.

Amgen Price Performance

Amgen stock opened at $337.38 on Friday. The company has a market capitalization of $180.98 billion, a price-to-earnings ratio of 48.20, a PEG ratio of 2.93 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The stock’s 50 day moving average is $329.57 and its 200-day moving average is $305.62.

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 analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm 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 company earned $5.00 earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 19.49 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 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Amgen Company 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.