Sierra Summit Advisors LLC Sells 19,688 Shares of Amgen Inc. (NASDAQ:AMGN)

Sierra Summit Advisors LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 87.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,704 shares of the medical research company’s stock after selling 19,688 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Amgen were worth $845,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMGN. United Community Bank bought a new stake in Amgen during the 4th quarter worth approximately $29,000. Horizon Financial Services LLC bought a new stake in shares of Amgen during the 1st quarter valued at $28,000. nVerses Capital LLC purchased a new position in shares of Amgen during the 2nd quarter valued at $31,000. Bbjs Financial Advisors LLC purchased a new stake in Amgen in the 2nd quarter worth $33,000. Finally, Western Pacific Wealth Management LP bought a new stake in Amgen during the fourth quarter valued at about $37,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $332.45 on Monday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock’s fifty day moving average is $328.18 and its 200 day moving average is $304.00. The firm has a market capitalization of $178.64 billion, a PE ratio of 47.49, a PEG ratio of 2.93 and a beta of 0.61. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results 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 firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.00 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.71%. Amgen’s dividend payout ratio is 128.57%.

Analyst Ratings Changes

AMGN has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Morgan Stanley lowered their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Argus raised their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $327.28.

Amgen 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.