Dorsey & Whitney Trust CO LLC Sells 219 Shares of Amgen Inc. (NASDAQ:AMGN)

Dorsey & Whitney Trust CO LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.6% in the 2nd quarter, Holdings Channel reports. The fund owned 8,346 shares of the medical research company’s stock after selling 219 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Amgen were worth $2,608,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMGN. Lane & Associates LLC lifted its stake in Amgen by 9.4% in the second quarter. Lane & Associates LLC now owns 1,429 shares of the medical research company’s stock valued at $446,000 after buying an additional 123 shares in the last quarter. LGT Group Foundation lifted its position in Amgen by 266.2% in the 2nd quarter. LGT Group Foundation now owns 23,145 shares of the medical research company’s stock valued at $7,232,000 after acquiring an additional 16,825 shares in the last quarter. Liberty Wealth Management LLC boosted its stake in Amgen by 377.6% in the 2nd quarter. Liberty Wealth Management LLC now owns 11,562 shares of the medical research company’s stock worth $3,613,000 after purchasing an additional 9,141 shares during the period. Choreo LLC boosted its stake in Amgen by 303.1% in the 2nd quarter. Choreo LLC now owns 16,064 shares of the medical research company’s stock worth $4,999,000 after purchasing an additional 12,079 shares during the period. Finally, Wedbush Securities Inc. increased its holdings in Amgen by 2.5% during the 2nd quarter. Wedbush Securities Inc. now owns 35,329 shares of the medical research company’s stock worth $11,039,000 after purchasing an additional 860 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Wells Fargo & Company downgraded 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 report on Wednesday, August 7th. TD Cowen lifted their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada increased their target price on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley lowered their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen Price Performance

NASDAQ:AMGN opened at $325.92 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. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The stock’s 50 day moving average price is $326.56 and its two-hundred day moving average price is $302.67. The firm has a market capitalization of $175.13 billion, a price-to-earnings ratio of 46.56, a P/E/G ratio of 2.85 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the company posted $5.00 EPS. The firm’s revenue was up 20.1% on a year-over-year basis. On average, analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Amgen Company 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.