Amgen Inc. (NASDAQ:AMGN) Position Decreased by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,528 shares of the medical research company’s stock after selling 4,614 shares during the period. Amgen makes up approximately 1.9% of Valley Wealth Managers Inc.’s portfolio, making the stock its 7th biggest holding. Valley Wealth Managers Inc.’s holdings in Amgen were worth $24,224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Capital International Investors lifted its stake in Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the last quarter. Norges Bank purchased a new position in Amgen in the fourth quarter valued at approximately $1,556,912,000. Vanguard Group Inc. raised its holdings in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after acquiring an additional 3,045,657 shares during the period. Janus Henderson Group PLC raised its holdings in Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after acquiring an additional 1,377,007 shares during the period. Finally, Capital Wealth Planning LLC raised its holdings in Amgen by 28,684.1% during the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after acquiring an additional 830,405 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of analyst reports. Royal Bank of Canada boosted their target price on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Jefferies Financial Group reissued 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. Oppenheimer reissued an “outperform” rating and set a $380.00 target price on shares of Amgen in a report 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 report on Wednesday, August 7th. Finally, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Stock Performance

Amgen stock opened at $330.06 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm has a 50-day moving average of $327.75 and a 200-day moving average of $303.32. The firm has a market cap of $177.06 billion, a P/E ratio of 47.15, a P/E/G ratio of 2.85 and a beta of 0.61. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its 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 firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.00 earnings per share. Sell-side analysts expect 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. Investors of record on Friday, August 16th were given 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 yield of 2.73%. Amgen’s dividend payout ratio (DPR) 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.