Amgen Inc. (NASDAQ:AMGN) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,454 shares of the medical research company’s stock after selling 40 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Amgen were worth $454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the second quarter worth $26,000. Horizon Financial Services LLC acquired a new stake in shares of Amgen in the 1st quarter valued at about $28,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the second quarter worth about $30,000. nVerses Capital LLC acquired a new position in Amgen in the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in Amgen in the second quarter valued at about $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 0.7 %

Shares of Amgen stock opened at $317.48 on Friday. The business has a fifty day simple moving average of $327.58 and a 200-day simple moving average of $308.62. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The firm has a market cap of $170.31 billion, a price-to-earnings ratio of 45.35, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the previous year, the company posted $5.00 earnings per share. Amgen’s revenue was up 20.1% compared to the same quarter last year. On average, equities analysts forecast 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. Shareholders of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.83%. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMGN. Morgan Stanley decreased their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $325.55.

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.