Total Clarity Wealth Management Inc. Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Total Clarity Wealth Management Inc. trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,853 shares of the medical research company’s stock after selling 1,028 shares during the period. Amgen makes up 1.0% of Total Clarity Wealth Management Inc.’s investment portfolio, making the stock its 26th largest holding. Total Clarity Wealth Management Inc.’s holdings in Amgen were worth $2,766,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. TCW Group Inc. raised its holdings in shares of Amgen by 25.1% during the fourth quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock valued at $50,376,000 after purchasing an additional 35,040 shares during the last quarter. Grassi Investment Management purchased a new position in shares of Amgen during the first quarter valued at approximately $2,283,000. Public Employees Retirement System of Ohio raised its holdings in shares of Amgen by 1.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock valued at $81,161,000 after purchasing an additional 4,376 shares during the last quarter. Meyer Handelman Co. raised its holdings in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in Amgen by 1.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock valued at $1,388,000 after buying an additional 57 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMGN shares. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Argus boosted their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. TD Cowen boosted their target price on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their target price on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $320.00 to $335.00 in a research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Price Performance

Amgen stock opened at $332.45 on Monday. The company has a market cap of $178.64 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 2.93 and a beta of 0.61. The firm’s fifty day moving average is $328.18 and its 200 day moving average is $304.00. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $5.00 EPS. Sell-side analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared 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. This represents a $9.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is 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.