Royal Capital Wealth Management LLC Sells 246 Shares of Amgen Inc. (NASDAQ:AMGN)

Royal Capital Wealth Management LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,263 shares of the medical research company’s stock after selling 246 shares during the period. Amgen makes up about 0.8% of Royal Capital Wealth Management LLC’s portfolio, making the stock its 29th largest holding. Royal Capital Wealth Management LLC’s holdings in Amgen were worth $1,020,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Keynote Financial Services LLC grew its stake in Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after buying an additional 30 shares in the last quarter. RFP Financial Group LLC raised its stake in shares of Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the period. Hofer & Associates. Inc raised its stake in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the period. Blossom Wealth Management boosted its stake in Amgen by 3.3% in the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after purchasing an additional 33 shares during the period. Finally, Legacy Capital Group California Inc. boosted its stake in Amgen by 1.1% in the 2nd quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock worth $955,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 1.4 %

Shares of AMGN opened at $330.92 on Wednesday. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The firm has a market cap of $177.52 billion, a price-to-earnings ratio of 47.27, a PEG ratio of 2.93 and a beta of 0.61. The firm has a 50 day moving average price of $329.63 and a 200-day moving average price of $306.87. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share 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 the consensus estimate of $8.35 billion. During the same period in the prior year, the firm earned $5.00 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada increased their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $327.28.

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.