Taylor Hoffman Wealth Management reduced its holdings in Amgen, Inc. (NASDAQ:AMGN) by 17.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,556 shares of the medical research company’s stock after selling 334 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Amgen were worth $287,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Capital Financial Planning LLC acquired a new stake in Amgen during the 4th quarter worth $27,000. Arbor Wealth Management LLC increased its holdings in shares of Amgen by 154.5% during the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 102 shares in the last quarter. C J Advisory Inc acquired a new position in shares of Amgen during the first quarter valued at about $40,000. Clarfeld Financial Advisors LLC acquired a new position in shares of Amgen during the fourth quarter valued at about $41,000. Finally, Ashburton Jersey Ltd acquired a new position in shares of Amgen during the second quarter valued at about $42,000. 78.01% of the stock is currently owned by institutional investors.
In other news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total value of $375,160.00. Following the completion of the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total value of $77,792.00. Following the completion of the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,425 shares of company stock valued at $804,312. Insiders own 0.25% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Royal Bank of Canada restated a “hold” rating on shares of Amgen in a report on Sunday, August 11th. Citigroup restated a “buy” rating on shares of Amgen in a report on Monday, August 12th. JPMorgan Chase & Co. restated a “hold” rating on shares of Amgen in a report on Friday, August 9th. Morgan Stanley cut their price objective on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Mizuho downgraded shares of Amgen from a “buy” rating to a “neutral” rating and upped their price objective for the company from $208.00 to $212.00 in a report on Monday. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $212.94.
Shares of Amgen stock traded up $1.59 during trading on Monday, reaching $205.61. The company’s stock had a trading volume of 153,022 shares, compared to its average volume of 3,881,659. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. Amgen, Inc. has a 12-month low of $166.30 and a 12-month high of $211.90. The company has a market capitalization of $119.53 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 2.34 and a beta of 1.19. The business has a 50 day moving average price of $183.92 and a 200-day moving average price of $182.82.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same period in the previous year, the business earned $3.83 earnings per share. Amgen’s quarterly revenue was down 3.1% compared to the same quarter last year. Research analysts predict that Amgen, Inc. will post 14.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be issued a $1.45 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s dividend payout ratio (DPR) is 40.28%.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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