Fidelity D & D Bancorp Inc. Cuts Position in Amgen Inc. (NASDAQ:AMGN)

Fidelity D & D Bancorp Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 890 shares of the medical research company’s stock after selling 45 shares during the period. Fidelity D & D Bancorp Inc.’s holdings in Amgen were worth $278,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMGN. Sivia Capital Partners LLC raised its position in shares of Amgen by 16.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,234 shares of the medical research company’s stock worth $385,000 after purchasing an additional 176 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new position in Amgen in the second quarter worth about $219,000. Private Advisor Group LLC lifted its stake in shares of Amgen by 17.4% in the second quarter. Private Advisor Group LLC now owns 60,383 shares of the medical research company’s stock worth $18,867,000 after buying an additional 8,954 shares in the last quarter. New York Life Investment Management LLC lifted its stake in shares of Amgen by 0.8% in the second quarter. New York Life Investment Management LLC now owns 74,094 shares of the medical research company’s stock worth $23,151,000 after buying an additional 566 shares in the last quarter. Finally, Wellington Shields Capital Management LLC grew its holdings in shares of Amgen by 2.8% during the second quarter. Wellington Shields Capital Management LLC now owns 3,799 shares of the medical research company’s stock valued at $1,187,000 after buying an additional 102 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Trading Down 1.2 %

NASDAQ:AMGN opened at $320.56 on Friday. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The business has a fifty day moving average price of $326.26 and a 200-day moving average price of $302.12. The firm has a market capitalization of $171.96 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 2.96 and a beta of 0.58. 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 (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS 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 company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the company earned $5.00 EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMGN shares. Argus upped their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. TD Cowen lifted their price objective on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada upped their target price on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.