Andra AP fonden Sells 8,000 Shares of Amgen Inc. (NASDAQ:AMGN)

Andra AP fonden decreased its position in Amgen Inc. (NASDAQ:AMGN) by 15.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 44,100 shares of the medical research company’s stock after selling 8,000 shares during the period. Andra AP fonden’s holdings in Amgen were worth $13,779,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in Amgen during the second quarter worth $26,000. Horizon Financial Services LLC acquired a new position in shares of Amgen during the 1st quarter worth about $28,000. United Community Bank bought a new position in shares of Amgen in the 4th quarter valued at about $29,000. nVerses Capital LLC bought a new position in shares of Amgen in the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen during the second quarter valued at approximately $33,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.9 %

Shares of AMGN stock opened at $328.93 on Wednesday. The stock has a market cap of $176.74 billion, a P/E ratio of 46.99, a price-to-earnings-growth ratio of 2.85 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a 50 day simple moving average of $326.92 and a 200 day simple moving average of $302.95.

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

Amgen Announces Dividend

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

Analysts Set New Price Targets

AMGN has been the subject of a number of analyst reports. Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America increased their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Morgan Stanley lowered their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Finally, Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.