Moors & Cabot Inc. Sells 919 Shares of Amgen Inc. (NASDAQ:AMGN)

Moors & Cabot Inc. lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,875 shares of the medical research company’s stock after selling 919 shares during the period. Moors & Cabot Inc.’s holdings in Amgen were worth $6,522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. TCW Group Inc. increased its stake in shares of Amgen by 25.1% in the fourth quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock valued at $50,376,000 after buying an additional 35,040 shares during the period. Grassi Investment Management acquired a new position in Amgen in the 1st quarter valued at approximately $2,283,000. Public Employees Retirement System of Ohio raised its stake in shares of Amgen by 1.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock valued at $81,161,000 after acquiring an additional 4,376 shares during the last quarter. Meyer Handelman Co. lifted its holdings in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the period. Finally, Chicago Partners Investment Group LLC grew its stake in shares of Amgen by 1.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock worth $1,388,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $335.26 on Tuesday. The business has a 50-day simple moving average of $328.66 and a 200 day simple moving average of $304.44. The firm has a market capitalization of $179.85 billion, a price-to-earnings ratio of 47.89, a PEG ratio of 2.93 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results 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 return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period in the previous year, the company earned $5.00 earnings per share. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. 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. Royal Bank of Canada raised their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. TD Cowen raised their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Amgen has an average 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.