Amgen Inc. (NASDAQ:AMGN) Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 44.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 643 shares of the medical research company’s stock after selling 524 shares during the quarter. Nemes Rush Group LLC’s holdings in Amgen were worth $201,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Grassi Investment Management acquired a new position in Amgen in the 1st quarter worth $2,283,000. Public Employees Retirement System of Ohio lifted its stake in shares of Amgen by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock worth $81,161,000 after acquiring an additional 4,376 shares in the last quarter. Meyer Handelman Co. boosted its holdings in Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in Amgen by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock valued at $1,388,000 after purchasing an additional 57 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. purchased a new stake in Amgen during the 4th quarter worth approximately $803,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. TD Cowen increased their target price on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald started coverage on Amgen in a research note on Friday. They set an “overweight” rating and a $405.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $325.55.

Amgen Trading Up 1.1 %

Amgen stock opened at $322.67 on Monday. The firm has a 50-day moving average price of $328.77 and a two-hundred day moving average price of $307.76. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The firm has a market capitalization of $173.09 billion, a price-to-earnings ratio of 46.10, a PEG ratio of 2.98 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

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 analysts’ consensus estimates 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. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $5.00 earnings per share. Sell-side analysts expect 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. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend 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.