MainStreet Investment Advisors LLC Sells 188 Shares of Amgen Inc. (NASDAQ:AMGN)

MainStreet Investment Advisors LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,029 shares of the medical research company’s stock after selling 188 shares during the period. MainStreet Investment Advisors LLC’s holdings in Amgen were worth $946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Asset Dedication LLC lifted its stake in shares of Amgen by 9.5% during the 2nd quarter. Asset Dedication LLC now owns 19,091 shares of the medical research company’s stock worth $5,965,000 after purchasing an additional 1,654 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Amgen in the second quarter worth about $26,000. Umpqua Bank raised its holdings in Amgen by 2.5% in the second quarter. Umpqua Bank now owns 2,047 shares of the medical research company’s stock worth $640,000 after purchasing an additional 50 shares in the last quarter. Parcion Private Wealth LLC lifted its position in shares of Amgen by 22.7% during the second quarter. Parcion Private Wealth LLC now owns 1,570 shares of the medical research company’s stock valued at $491,000 after buying an additional 290 shares during the last quarter. Finally, Motiv8 Investments LLC grew its position in shares of Amgen by 18.9% in the 2nd quarter. Motiv8 Investments LLC now owns 2,563 shares of the medical research company’s stock worth $801,000 after buying an additional 408 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Argus increased their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Bank of America raised their price target on Amgen from $325.00 to $330.00 and gave the stock 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $320.56 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm’s 50 day simple moving average is $326.26 and its 200-day simple moving average is $302.25. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The stock has a market capitalization of $171.96 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 2.96 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 firm 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 firm posted $5.00 EPS. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared 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 dividend payout ratio is currently 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.