Alexander Randolph Advisory Inc. Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

Alexander Randolph Advisory Inc. decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,030 shares of the medical research company’s stock after selling 145 shares during the period. Amgen accounts for 2.1% of Alexander Randolph Advisory Inc.’s investment portfolio, making the stock its 18th largest holding. Alexander Randolph Advisory Inc.’s holdings in Amgen were worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Keynote Financial Services LLC increased its stake in shares of 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 period. RFP Financial Group LLC increased its stake in shares of 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 period. Hofer & Associates. Inc increased its stake in shares of 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 period. Blossom Wealth Management increased its stake in shares of 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 period. Finally, Legacy Capital Group California Inc. increased its stake in shares of 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 period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Trading Up 0.3 %

Amgen stock opened at $329.98 on Thursday. The company has a 50 day moving average price of $327.34 and a 200 day moving average price of $303.13. The firm has a market capitalization of $177.01 billion, a price-to-earnings ratio of 47.14, a P/E/G ratio of 2.85 and a beta of 0.61. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the business earned $5.00 EPS. Research analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

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 is currently 128.57%.

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.