First Business Financial Services Inc. Has $287,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

First Business Financial Services Inc. decreased its position in Amgen Inc. (NASDAQ:AMGN) by 79.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 919 shares of the medical research company’s stock after selling 3,475 shares during the period. First Business Financial Services Inc.’s holdings in Amgen were worth $287,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Horizon Financial Services LLC acquired a new position in shares of Amgen in the first quarter valued at $28,000. United Community Bank acquired a new position in shares of Amgen in the 4th quarter valued at $29,000. nVerses Capital LLC bought a new position in shares of Amgen during the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at about $33,000. Finally, Western Pacific Wealth Management LP bought a new stake in Amgen in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN traded down $7.92 on Thursday, hitting $322.72. 474,982 shares of the stock were exchanged, compared to its average volume of 2,533,836. The business’s fifty day moving average is $325.89 and its 200 day moving average is $301.70. Amgen Inc. has a 52 week low of $248.38 and a 52 week high of $346.85. The company has a market capitalization of $173.12 billion, a PE ratio of 46.44, a P/E/G ratio of 2.96 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 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 company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the firm earned $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. Research analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is 128.57%.

Analysts Set New Price Targets

A number of brokerages have commented on AMGN. TD Cowen raised their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Bank of America boosted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada upped their target price on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.