Amgen Inc. (NASDAQ:AMGN) Shares Sold by Ellerson Group Inc. ADV

Ellerson Group Inc. ADV reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,205 shares of the medical research company’s stock after selling 40 shares during the period. Amgen makes up about 2.7% of Ellerson Group Inc. ADV’s investment portfolio, making the stock its 17th largest position. Ellerson Group Inc. ADV’s holdings in Amgen were worth $3,501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at $26,000. Horizon Financial Services LLC acquired a new position in shares of Amgen in the 1st quarter worth $28,000. United Community Bank acquired a new stake in shares of Amgen during the fourth quarter worth $29,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the second quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $33,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

NASDAQ AMGN opened at $326.94 on Tuesday. 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 stock has a market capitalization of $175.67 billion, a PE ratio of 46.56, a price-to-earnings-growth ratio of 2.85 and a beta of 0.61. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The company has a 50 day moving average price of $326.56 and a two-hundred day moving average price of $302.67.

Amgen (NASDAQ:AMGN) last released its quarterly 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). The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.00 EPS. As a group, equities analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.75%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent analyst reports. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Morgan Stanley decreased their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Oppenheimer reiterated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada increased their target price on Amgen from $332.00 to $362.00 and gave the company an “outperform” 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 company’s stock. Based on data from MarketBeat.com, the stock presently 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.