B. Riley Wealth Advisors Inc. Sells 3,080 Shares of Amgen Inc. (NASDAQ:AMGN)

B. Riley Wealth Advisors Inc. trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.1% in the second quarter, Holdings Channel reports. The fund owned 40,127 shares of the medical research company’s stock after selling 3,080 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Amgen were worth $12,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital International Investors grew its holdings in Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after buying an additional 5,923,915 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after acquiring an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC increased its position in Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after acquiring an additional 1,377,007 shares during the period. Capital Wealth Planning LLC raised its stake in Amgen by 28,684.1% during the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after purchasing an additional 830,405 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after purchasing an additional 751,947 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on AMGN. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America upped their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Cantor Fitzgerald began coverage on Amgen in a report on Friday. They set an “overweight” rating and a $405.00 price objective on the stock. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average target price of $325.55.

Amgen Stock Performance

NASDAQ:AMGN opened at $322.67 on Monday. The stock has a market capitalization of $173.09 billion, a P/E ratio of 46.10, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. 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 has a 50 day moving average of $328.77 and a 200-day moving average of $307.76.

Amgen (NASDAQ:AMGN) last issued 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 business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.00 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared 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 yield of 2.79%. Amgen’s dividend payout ratio (DPR) is 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.