Smallwood Wealth Investment Management LLC Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Smallwood Wealth Investment Management LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 3.8% in the second quarter, HoldingsChannel reports. The firm owned 1,076 shares of the medical research company’s stock after selling 42 shares during the quarter. Smallwood Wealth Investment Management LLC’s holdings in Amgen were worth $336,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AMGN. International Assets Investment Management LLC bought a new position in shares of Amgen in the 4th quarter worth about $32,880,000. GUNN & Co INVESTMENT MANAGEMENT INC. lifted its holdings in shares of Amgen by 1,089.5% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 108,838 shares of the medical research company’s stock valued at $31,348,000 after purchasing an additional 99,688 shares during the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Amgen by 5.0% during the fourth quarter. Kovack Advisors Inc. now owns 2,983 shares of the medical research company’s stock valued at $859,000 after purchasing an additional 141 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Amgen by 8.6% in the 4th quarter. Citizens Financial Group Inc. RI now owns 11,943 shares of the medical research company’s stock worth $3,440,000 after purchasing an additional 943 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Amgen in the 4th quarter worth approximately $421,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

NASDAQ:AMGN traded up $0.15 on Tuesday, hitting $326.93. The stock had a trading volume of 1,444,346 shares, compared to its average volume of 2,571,078. Amgen Inc. has a 52-week low of $248.38 and a 52-week high of $346.85. The stock has a market cap of $175.38 billion, a price-to-earnings ratio of 46.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The business’s 50-day simple moving average is $323.17 and its two-hundred day simple moving average is $299.76.

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 analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the previous year, the business posted $5.00 EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, research analysts predict that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.75%. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group lifted their price objective on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Royal Bank of Canada upped their price target on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Morgan Stanley reduced their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Bank of America lifted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Mizuho increased their price target on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $326.89.

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.