Edgestream Partners L.P. Has $854,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Edgestream Partners L.P. decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 78.0% during the second quarter, Holdings Channel.com reports. The firm owned 2,733 shares of the medical research company’s stock after selling 9,701 shares during the period. Edgestream Partners L.P.’s holdings in Amgen were worth $854,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Strategic Financial Concepts LLC purchased a new position in shares of Amgen during the 2nd quarter valued at $26,000. Horizon Financial Services LLC purchased a new position in Amgen in the first quarter valued at about $28,000. United Community Bank acquired a new position in Amgen in the 4th quarter worth about $29,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the 2nd quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at about $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMGN. 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. TD Cowen increased their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their price objective on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Trading Up 0.4 %

Shares of AMGN stock opened at $337.38 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The firm’s fifty day simple moving average is $329.57 and its 200 day simple moving average is $305.82. The firm has a market capitalization of $180.98 billion, a P/E ratio of 48.20, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted 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). Amgen had a return on equity of 161.72% and a net margin of 10.12%. 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 firm posted $5.00 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, sell-side analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

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

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.