Estabrook Capital Management Has $6.48 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Estabrook Capital Management lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,732 shares of the medical research company’s stock after selling 322 shares during the quarter. Amgen comprises approximately 1.0% of Estabrook Capital Management’s holdings, making the stock its 28th largest holding. Estabrook Capital Management’s holdings in Amgen were worth $6,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. United Community Bank acquired a new position in Amgen in the fourth quarter valued at about $29,000. Horizon Financial Services LLC bought a new stake in shares of Amgen in the 1st quarter valued at about $28,000. nVerses Capital LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at approximately $31,000. Bbjs Financial Advisors LLC bought a new position in Amgen during the 2nd quarter worth approximately $33,000. Finally, FSA Wealth Management LLC grew its holdings in Amgen by 182.0% during the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 91 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Up 0.4 %

NASDAQ AMGN opened at $337.38 on Friday. Amgen Inc. has a 12 month low of $249.70 and a 12 month 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 moving average of $329.57 and a 200-day moving average of $305.82. The company has a market cap of $180.98 billion, a PE ratio of 48.20, a PEG ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results 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). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.00 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.67%. Amgen’s dividend payout ratio is 128.57%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMGN. Bank of America increased their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Argus increased their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Morgan Stanley cut their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 price objective (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, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $327.28.

About Amgen

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.