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

Fiduciary Group LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 1.7% during the 2nd quarter, Holdings Channel reports. The firm owned 32,385 shares of the medical research company’s stock after selling 548 shares during the quarter. Amgen comprises about 1.1% of Fiduciary Group LLC’s holdings, making the stock its 24th biggest position. Fiduciary Group LLC’s holdings in Amgen were worth $10,119,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen during the second quarter valued at $26,000. Horizon Financial Services LLC acquired a new stake in shares of Amgen during the first quarter valued at $28,000. United Community Bank acquired a new stake in shares of Amgen during the fourth quarter valued at $29,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the second quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the second quarter valued at $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AMGN. Wells Fargo & Company downgraded 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 report on Wednesday, August 7th. Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. TD Cowen increased their target price on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Bank of America increased their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada increased their target price on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $332.45 on Friday. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The business has a 50 day moving average price of $328.18 and a two-hundred day moving average price of $303.64. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm has a market cap of $178.64 billion, a PE ratio of 47.49, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share 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 business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the business earned $5.00 EPS. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. Sell-side analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.71%. Amgen’s payout ratio is 128.57%.

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.