Amgen Inc. (NASDAQ:AMGN) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lessened its position in Amgen Inc. (NASDAQ:AMGN) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,383 shares of the medical research company’s stock after selling 45 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Amgen were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AMGN. Vanguard Group Inc. increased its stake in Amgen by 6.2% during the first 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 period. Capital International Investors increased its stake in Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after buying an additional 5,923,915 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Amgen by 3.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after buying an additional 243,720 shares in the last quarter. Royal Bank of Canada lifted its holdings in Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after buying an additional 751,947 shares in the last quarter. Finally, Norges Bank purchased a new position in Amgen in the 4th quarter valued at approximately $1,556,912,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. TD Cowen lifted their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada lifted their price target on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Bank of America upped their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Stock Down 1.2 %

Shares of NASDAQ AMGN opened at $320.56 on Friday. The stock has a market capitalization of $171.96 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 2.96 and a beta of 0.58. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The firm has a 50-day moving average price of $326.26 and a 200 day moving average price of $302.12. 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 posted its quarterly earnings results 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). The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.00 earnings per share. Equities research analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. Amgen’s payout ratio is 128.57%.

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.