Amgen Inc. (NASDAQ:AMGN) Stake Lessened by Range Financial Group LLC

Range Financial Group LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,107 shares of the medical research company’s stock after selling 57 shares during the period. Amgen comprises about 1.3% of Range Financial Group LLC’s portfolio, making the stock its 14th largest holding. Range Financial Group LLC’s holdings in Amgen were worth $2,533,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AMGN. Keynote Financial Services LLC lifted its position in shares of Amgen by 0.6% during 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 in the last quarter. RFP Financial Group LLC boosted its stake in Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after buying an additional 32 shares during the period. Hofer & Associates. Inc raised its position 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 buying an additional 32 shares in the last quarter. Blossom Wealth Management raised its stake in shares of Amgen by 3.3% during the second quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after acquiring an additional 33 shares in the last quarter. Finally, Legacy Capital Group California Inc. grew its position in Amgen by 1.1% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock worth $955,000 after acquiring an additional 33 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Trading Down 0.4 %

NASDAQ:AMGN opened at $329.40 on Thursday. 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 $176.70 billion, a PE ratio of 47.23, a price-to-earnings-growth ratio of 2.96 and a beta of 0.58. The stock’s 50-day moving average is $325.89 and its two-hundred day moving average is $301.70. Amgen Inc. has a fifty-two week low of $248.38 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results 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). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.00 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.73%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMGN shares. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. TD Cowen lifted their price target on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Mizuho raised their price target on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Finally, Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $326.89.

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.