CarsonAllaria Wealth Management Ltd. Lowers Stake in Amgen Inc. (NASDAQ:AMGN)

CarsonAllaria Wealth Management Ltd. lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 9.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 827 shares of the medical research company’s stock after selling 91 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Amgen were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Provence Wealth Management Group grew its holdings in shares of Amgen by 11.9% in the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after purchasing an additional 154 shares during the period. Kinsale Capital Group Inc. boosted its position in shares of Amgen by 33.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after acquiring an additional 2,814 shares in the last quarter. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Amgen by 2.4% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock valued at $1,363,000 after acquiring an additional 109 shares during the last quarter. Valley Brook Capital Group Inc. boosted its holdings in Amgen by 7.0% in the fourth quarter. Valley Brook Capital Group Inc. now owns 4,730 shares of the medical research company’s stock valued at $1,362,000 after purchasing an additional 310 shares in the last quarter. Finally, Evergreen Wealth Management LLC increased its stake in Amgen by 1.7% in the fourth quarter. Evergreen Wealth Management LLC now owns 4,892 shares of the medical research company’s stock valued at $1,409,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN traded up $0.58 during midday trading on Tuesday, reaching $328.55. 1,352,484 shares of the company’s stock were exchanged, compared to its average volume of 2,599,579. Amgen Inc. has a one year low of $248.38 and a one year high of $346.85. The firm has a market capitalization of $176.25 billion, a price-to-earnings ratio of 46.94, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The business has a 50-day simple moving average of $321.01 and a two-hundred day simple moving average of $299.19. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last released 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). The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.00 earnings per share. As a group, research analysts predict that Amgen Inc. will post 19.5 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Mizuho boosted their target price on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Bank of America lifted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Morgan Stanley lowered their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Finally, StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $326.89.

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.