Park Place Capital Corp Has $838,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Park Place Capital Corp lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 26.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,683 shares of the medical research company’s stock after selling 964 shares during the period. Park Place Capital Corp’s holdings in Amgen were worth $838,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $29,000. United Community Bank acquired a new stake in Amgen during the 4th quarter worth about $29,000. Horizon Financial Services LLC bought a new position in shares of Amgen in the 1st quarter worth about $28,000. Delos Wealth Advisors LLC lifted its stake in shares of Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Finally, Hartford Financial Management Inc. boosted its position in shares of Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN traded down $1.54 on Friday, reaching $333.99. 2,106,216 shares of the company’s stock traded hands, compared to its average volume of 1,890,833. The stock’s 50 day simple moving average is $316.30 and its two-hundred day simple moving average is $298.26. The stock has a market cap of $179.16 billion, a PE ratio of 47.71, a PEG ratio of 2.78 and a beta of 0.58. Amgen Inc. has a 52-week low of $228.21 and a 52-week high of $346.85. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the firm posted $3.98 EPS. On average, analysts forecast that Amgen Inc. will post 19.5 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.69%. Amgen’s payout ratio is 128.57%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMGN. Mizuho lifted their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. BMO Capital Markets boosted their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Morgan Stanley cut their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Truist Financial reissued a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. Finally, Argus upped their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.63.

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.