Wrapmanager Inc. Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

Wrapmanager Inc. trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,354 shares of the medical research company’s stock after selling 165 shares during the quarter. Wrapmanager Inc.’s holdings in Amgen were worth $1,360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new position in shares of Amgen in the second quarter worth approximately $26,000. Horizon Financial Services LLC purchased a new position in shares of Amgen in the first quarter valued at about $28,000. United Community Bank purchased a new stake in shares of Amgen during the fourth quarter worth about $29,000. nVerses Capital LLC bought a new stake in shares of Amgen in the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in Amgen during the 2nd quarter valued at approximately $33,000. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN opened at $332.45 on Friday. The company has a 50-day moving average price of $328.18 and a 200-day moving average price of $303.64. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $178.64 billion, a P/E ratio of 47.49, a PEG ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the prior year, the company posted $5.00 earnings per share. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. Equities research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Wall Street Analyst Weigh In

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

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.