Denver PWM LLC Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Denver PWM LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 13.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 813 shares of the medical research company’s stock after selling 126 shares during the period. Denver PWM LLC’s holdings in Amgen were worth $254,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AMGN. Kinsale Capital Group Inc. grew its holdings in Amgen by 33.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after buying an additional 2,814 shares in the last quarter. TCW Group Inc. raised its holdings in Amgen by 25.1% during the 4th quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock valued at $50,376,000 after buying an additional 35,040 shares during the last quarter. Grassi Investment Management bought a new position in Amgen during the 1st quarter valued at approximately $2,283,000. Public Employees Retirement System of Ohio raised its holdings in shares of Amgen by 1.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock valued at $81,161,000 after acquiring an additional 4,376 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Amgen in the fourth quarter worth about $2,866,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 1.9 %

Shares of AMGN opened at $324.36 on Friday. The business’s 50 day simple moving average is $326.10 and its 200-day simple moving average is $301.86. Amgen Inc. has a 1 year low of $248.38 and a 1 year 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 capitalization of $174.00 billion, a price-to-earnings ratio of 46.34, a price-to-earnings-growth ratio of 2.96 and a beta of 0.58.

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 the consensus estimate 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 in the previous year, the firm earned $5.00 earnings per share. The company’s revenue was up 20.1% compared to the same quarter last year. As a group, equities analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Analyst Ratings Changes

A number of brokerages have weighed in on AMGN. TD Cowen upped their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating 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 company an “outperform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Finally, Bank of America boosted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $326.89.

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.