MainStreet Investment Advisors LLC Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

MainStreet Investment Advisors LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.8% in the second quarter, Holdings Channel reports. The firm owned 3,029 shares of the medical research company’s stock after selling 188 shares during the period. MainStreet Investment Advisors LLC’s holdings in Amgen were worth $946,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. United Community Bank purchased a new stake in Amgen during the 4th quarter worth approximately $29,000. Horizon Financial Services LLC purchased a new position in Amgen in the 1st quarter valued at $28,000. nVerses Capital LLC acquired a new stake in Amgen during the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the second quarter worth $33,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Amgen in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. TD Cowen lifted their price objective on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada upped their target price on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $327.28.

Amgen Stock Down 1.2 %

Shares of NASDAQ AMGN opened at $320.56 on Friday. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The stock has a market cap of $171.96 billion, a P/E ratio of 45.79, a PEG ratio of 2.96 and a beta of 0.61. 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 business’s fifty day simple moving average is $326.26 and its 200-day simple moving average is $302.25.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company 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 business posted $5.00 EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, equities analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.81%. Amgen’s payout ratio is currently 128.57%.

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.