Amgen Inc. (NASDAQ:AMGN) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,383 shares of the medical research company’s stock after selling 45 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Amgen were worth $432,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMGN. Horizon Financial Services LLC purchased a new stake in shares of Amgen during the 1st quarter worth about $28,000. United Community Bank purchased a new position in Amgen during the fourth quarter worth approximately $29,000. nVerses Capital LLC acquired a new stake in Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the second quarter valued at approximately $33,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Amgen during the 4th quarter worth approximately $37,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Amgen stock opened at $320.56 on Friday. The firm has a 50 day simple moving average of $326.26 and a 200-day simple moving average of $302.12. The stock has a market cap of $171.96 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth 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 Inc. has a 1-year low of $249.70 and a 1-year high of $346.85.

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 business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the company posted $5.00 earnings per share. The company’s revenue was up 20.1% on a year-over-year basis. On average, analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.81%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMGN. Royal Bank of Canada lifted their price target 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 shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Argus raised their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. TD Cowen boosted their price objective on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer reissued an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $327.28.

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.