Ausdal Financial Partners Inc. Reduces Position in Amgen Inc. (NASDAQ:AMGN)

Ausdal Financial Partners Inc. cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 9.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,525 shares of the medical research company’s stock after selling 159 shares during the period. Ausdal Financial Partners Inc.’s holdings in Amgen were worth $476,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AMGN. Keynote Financial Services LLC increased its position in shares of Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after acquiring an additional 30 shares during the last quarter. RFP Financial Group LLC increased its position in shares of Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 32 shares during the last quarter. Hofer & Associates. Inc increased its position in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after acquiring an additional 32 shares during the last quarter. Blossom Wealth Management increased its position in shares of Amgen by 3.3% during the second quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 33 shares during the last quarter. Finally, Legacy Capital Group California Inc. increased its position in shares of Amgen by 1.1% during the second quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock valued at $955,000 after acquiring an additional 33 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of AMGN opened at $325.92 on Tuesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a market capitalization of $175.13 billion, a P/E ratio of 46.56, a P/E/G ratio of 2.85 and a beta of 0.61. The company’s fifty day moving average is $326.56 and its two-hundred day moving average is $302.67. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last announced 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 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 quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.00 earnings per share. On average, sell-side analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The company 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 of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.76%. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price target 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. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Argus lifted their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $327.28.

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.