Amgen Inc. (NASDAQ:AMGN) Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 22.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 965 shares of the medical research company’s stock after selling 275 shares during the quarter. Clearstead Trust LLC’s holdings in Amgen were worth $302,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Keynote Financial Services LLC boosted its holdings in Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the last quarter. RFP Financial Group LLC boosted its holdings in Amgen by 17.1% in the first 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 last quarter. Hofer & Associates. Inc boosted its holdings in Amgen by 0.5% in the second 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 last quarter. Blossom Wealth Management boosted its holdings in Amgen by 3.3% in the second quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock valued at $320,000 after purchasing an additional 33 shares during the last quarter. Finally, Legacy Capital Group California Inc. boosted its holdings in Amgen by 1.1% in the second quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock valued at $955,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMGN shares. TD Cowen increased their price target on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a 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 report on Thursday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. 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 report on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Stock Up 0.8 %

AMGN opened at $335.26 on Tuesday. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a market cap of $179.85 billion, a P/E ratio of 47.89, a P/E/G ratio of 2.93 and a beta of 0.61. The stock’s 50 day moving average price is $328.66 and its 200 day moving average price is $304.44.

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

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Amgen 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.