L & S Advisors Inc lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 15.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,283 shares of the medical research company’s stock after selling 240 shares during the quarter. L & S Advisors Inc’s holdings in Amgen were worth $313,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. OLD Mission Capital LLC purchased a new position in shares of Amgen in the 3rd quarter worth approximately $239,000. Ironwood Wealth Management LLC. boosted its holdings in shares of Amgen by 35.6% in the 1st quarter. Ironwood Wealth Management LLC. now owns 6,380 shares of the medical research company’s stock worth $1,587,000 after purchasing an additional 1,675 shares during the period. Rafferty Asset Management LLC boosted its holdings in shares of Amgen by 27.4% in the 1st quarter. Rafferty Asset Management LLC now owns 41,669 shares of the medical research company’s stock worth $10,368,000 after purchasing an additional 8,970 shares during the period. Colonial Trust Advisors boosted its holdings in shares of Amgen by 2.0% in the 1st quarter. Colonial Trust Advisors now owns 2,091 shares of the medical research company’s stock worth $520,000 after purchasing an additional 41 shares during the period. Finally, GAM Holding AG purchased a new position in shares of Amgen in the 1st quarter worth approximately $4,230,000. Institutional investors and hedge funds own 74.73% of the company’s stock.
A number of brokerages have recently commented on AMGN. BMO Capital Markets lifted their target price on Amgen from $296.00 to $301.00 and gave the stock an “outperform” rating in a report on Monday, May 31st. Robert W. Baird restated a “sell” rating on shares of Amgen in a report on Thursday, August 5th. Morgan Stanley cut Amgen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $280.00 to $251.00 in a report on Tuesday, September 7th. Zacks Investment Research upgraded Amgen from a “sell” rating to a “hold” rating and set a $255.00 price objective for the company in a report on Tuesday, June 29th. Finally, Daiwa Capital Markets cut Amgen from an “outperform” rating to a “neutral” rating and set a $220.00 price objective for the company. in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $245.70.
Amgen (NASDAQ:AMGN) last issued its earnings results on Monday, August 2nd. The medical research company reported $4.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.09 by $0.29. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.43 billion. Amgen had a return on equity of 99.85% and a net margin of 22.55%. On average, research analysts expect that Amgen Inc. will post 16.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Tuesday, August 17th were given a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Monday, August 16th. Amgen’s payout ratio is 42.41%.
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.
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