Front Row Advisors LLC trimmed its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,683 shares of the medical research company’s stock after selling 84 shares during the quarter. Amgen accounts for approximately 1.3% of Front Row Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Front Row Advisors LLC’s holdings in Amgen were worth $1,784,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in AMGN. Nuveen Asset Management LLC lifted its position in shares of Amgen by 1,334.9% during the second quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock worth $910,860,000 after purchasing an additional 4,598,329 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of Amgen by 19,447.3% in the second quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock valued at $180,539,000 after acquiring an additional 1,796,156 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Amgen by 3.4% in the second quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock valued at $8,793,346,000 after acquiring an additional 1,585,911 shares in the last quarter. Ruffer LLP bought a new stake in shares of Amgen in the second quarter valued at about $192,788,000. Finally, Beutel Goodman & Co Ltd. raised its holdings in shares of Amgen by 50.5% in the second quarter. Beutel Goodman & Co Ltd. now owns 1,100,511 shares of the medical research company’s stock valued at $154,859,000 after acquiring an additional 369,142 shares in the last quarter. Institutional investors and hedge funds own 76.24% of the company’s stock.
Several analysts recently weighed in on the company. Mizuho restated a “hold” rating and issued a $212.00 price objective on shares of Amgen in a report on Sunday. Cowen set a $231.00 target price on Amgen and gave the company a “buy” rating in a research note on Thursday, August 22nd. BMO Capital Markets reiterated a “buy” rating on shares of Amgen in a research note on Monday, September 9th. William Blair reiterated a “hold” rating on shares of Amgen in a research note on Friday, August 30th. Finally, Citigroup reiterated a “buy” rating on shares of Amgen in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $217.33.
Shares of AMGN stock traded down $0.33 during trading hours on Tuesday, reaching $193.18. 85,107 shares of the company’s stock were exchanged, compared to its average volume of 2,554,989. Amgen, Inc. has a 1 year low of $166.30 and a 1 year high of $211.90. The stock has a market cap of $116.91 billion, a PE ratio of 13.38, a PEG ratio of 2.53 and a beta of 1.11. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58. The stock’s fifty day moving average price is $201.20 and its two-hundred day moving average price is $185.95.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same quarter in the previous year, the firm earned $3.83 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts expect that Amgen, Inc. will post 14.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.45 per share. The ex-dividend date was Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.00%. Amgen’s payout ratio is 40.28%.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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