Core Alternative Capital Has $4.21 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Core Alternative Capital cut its stake in Amgen Inc. (NASDAQ:AMGN) by 26.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 13,459 shares of the medical research company’s stock after selling 4,919 shares during the quarter. Core Alternative Capital’s holdings in Amgen were worth $4,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AMGN. Capital International Investors lifted its holdings in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after acquiring an additional 5,923,915 shares during the period. Vanguard Group Inc. grew its holdings in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after purchasing an additional 1,377,007 shares in the last quarter. Capital Wealth Planning LLC lifted its holdings 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 position in Amgen by 14.8% in the fourth 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 buying an additional 751,947 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN opened at $322.67 on Monday. 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 market cap 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 stock’s 50-day moving average price is $328.77 and its two-hundred day moving average price is $307.76. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share 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 firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the previous year, the business earned $5.00 EPS. The firm’s revenue was up 20.1% compared to the same quarter last year. On average, equities 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. Investors of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price objective on shares of Amgen in a report on Thursday. TD Cowen raised their price target on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Argus lifted their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $325.55.

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.