Revolve Wealth Partners LLC Sells 411 Shares of Amgen Inc. (NASDAQ:AMGN)

Revolve Wealth Partners LLC decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,948 shares of the medical research company’s stock after selling 411 shares during the quarter. Amgen accounts for about 0.9% of Revolve Wealth Partners LLC’s portfolio, making the stock its 24th largest holding. Revolve Wealth Partners LLC’s holdings in Amgen were worth $5,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Horizon Financial Services LLC bought a new stake in shares of Amgen during the 1st quarter worth $28,000. United Community Bank acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $29,000. Delos Wealth Advisors LLC grew its holdings in shares of Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in Amgen during the 2nd quarter worth approximately $33,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Amgen during the fourth quarter worth $37,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 0.5 %

Amgen stock traded down $1.69 during midday trading on Friday, hitting $321.44. 1,442,483 shares of the stock were exchanged, compared to its average volume of 2,616,239. Amgen Inc. has a 52-week low of $248.38 and a 52-week high of $346.85. 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 moving average price is $319.99 and its 200-day moving average price is $299.24. The stock has a market capitalization of $172.43 billion, a price-to-earnings ratio of 45.92, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business posted $5.00 earnings per share. On average, research analysts expect that Amgen Inc. will post 19.5 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.80%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Ratings Changes

Several research firms have commented on AMGN. Oppenheimer reiterated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Royal Bank of Canada boosted their price objective 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. UBS Group lifted their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $326.89.

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.