MJP Associates Inc. ADV Has $898,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

MJP Associates Inc. ADV trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.3% in the second quarter, HoldingsChannel reports. The firm owned 2,876 shares of the medical research company’s stock after selling 39 shares during the period. MJP Associates Inc. ADV’s holdings in Amgen were worth $898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Horizon Financial Services LLC bought a new stake in shares of Amgen during the first quarter worth $28,000. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the 4th quarter worth about $29,000. United Community Bank bought a new stake in Amgen during the 4th quarter worth about $29,000. Delos Wealth Advisors LLC increased its position in Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Finally, Hartford Financial Management Inc. raised its stake in shares of Amgen by 56.9% in the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after acquiring an additional 41 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Down 0.7 %

AMGN stock traded down $2.20 during mid-day trading on Friday, hitting $322.49. 1,786,545 shares of the company were exchanged, compared to its average volume of 2,646,529. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. Amgen Inc. has a 1-year low of $248.38 and a 1-year high of $346.85. The firm’s 50 day simple moving average is $318.39 and its 200 day simple moving average is $298.79. The firm has a market cap of $172.99 billion, a P/E ratio of 46.07, a P/E/G ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued 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 the consensus estimate of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company earned $5.00 EPS. On average, sell-side analysts predict that Amgen Inc. will post 19.5 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.79%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $230.00 to $300.00 in a report on Friday, May 3rd. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Bank of America upped their target price on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, UBS Group raised their price target on Amgen from $284.00 to $307.00 and gave the stock a “neutral” 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $326.89.

Amgen Company 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.