Amgen Inc. (NASDAQ:AMGN) Shares Sold by X Square Capital LLC

X Square Capital LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,614 shares of the medical research company’s stock after selling 98 shares during the period. Amgen makes up about 2.0% of X Square Capital LLC’s portfolio, making the stock its 12th largest holding. X Square Capital LLC’s holdings in Amgen were worth $4,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. United Community Bank purchased a new stake in shares of Amgen during the fourth quarter valued at $29,000. Horizon Financial Services LLC purchased a new stake in shares of Amgen in the first quarter worth approximately $28,000. nVerses Capital LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at $31,000. Bbjs Financial Advisors LLC bought a new position in Amgen during the second quarter valued at approximately $33,000. Finally, Western Pacific Wealth Management LP acquired a new stake in Amgen in the fourth quarter valued at approximately $37,000. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

AMGN stock opened at $320.56 on Monday. The stock has a market capitalization of $171.96 billion, a PE ratio of 45.79, a price-to-earnings-growth ratio of 2.96 and a beta of 0.61. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company has a 50 day moving average price of $326.26 and a 200 day moving average price of $302.38.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates 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 in the previous year, the business earned $5.00 earnings per share. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. Analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

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

Wall Street Analysts Forecast Growth

AMGN has been the topic of several analyst reports. Royal Bank of Canada increased their target price on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. TD Cowen upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.28.

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.