Altus Wealth Group LLC Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

Altus Wealth Group LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 44.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,847 shares of the medical research company’s stock after selling 1,470 shares during the period. Altus Wealth Group LLC’s holdings in Amgen were worth $577,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Keynote Financial Services LLC raised its stake in shares of Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after acquiring an additional 30 shares during the period. RFP Financial Group LLC raised its stake in shares of Amgen by 17.1% in the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 32 shares during the period. Hofer & Associates. Inc raised its stake in shares of Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after acquiring an additional 32 shares during the period. Blossom Wealth Management raised its stake in shares of Amgen by 3.3% in the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 33 shares during the period. Finally, Legacy Capital Group California Inc. raised its stake in shares of Amgen by 1.1% in the 2nd quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock valued at $955,000 after acquiring an additional 33 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. 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 report on Thursday, July 11th. Finally, Mizuho lifted their price objective on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $326.89.

Amgen Trading Down 1.9 %

Shares of Amgen stock opened at $324.36 on Friday. Amgen Inc. has a 1 year low of $248.38 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company has a market capitalization of $174.00 billion, a P/E ratio of 46.34, a PEG ratio of 2.96 and a beta of 0.58. The company’s fifty day moving average is $326.10 and its two-hundred day moving average is $301.86.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS 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 firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the business posted $5.00 EPS. The firm’s revenue was up 20.1% on a year-over-year basis. Analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 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.