Intelligence Driven Advisers LLC Sells 553 Shares of Amgen Inc. (NASDAQ:AMGN)

Intelligence Driven Advisers LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 46.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 649 shares of the medical research company’s stock after selling 553 shares during the period. Intelligence Driven Advisers LLC’s holdings in Amgen were worth $203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kinsale Capital Group Inc. lifted its position in Amgen by 33.0% during the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after purchasing an additional 2,814 shares during the period. TCW Group Inc. increased its stake in shares of Amgen by 25.1% in the fourth quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock worth $50,376,000 after purchasing an additional 35,040 shares in the last quarter. Grassi Investment Management bought a new position in shares of Amgen during the 1st quarter valued at about $2,283,000. Public Employees Retirement System of Ohio grew its holdings in Amgen by 1.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock valued at $81,161,000 after buying an additional 4,376 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Amgen during the 4th quarter valued at approximately $2,866,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley dropped 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. TD Cowen raised their price target on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research 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 company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Stock Down 1.2 %

AMGN traded down $3.80 on Friday, hitting $320.56. The company had a trading volume of 2,242,451 shares, compared to its average volume of 2,541,291. The stock has a fifty day moving average price of $326.26 and a 200-day moving average price of $302.12. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a market capitalization of $171.96 billion, a price-to-earnings ratio of 45.79, a P/E/G ratio of 2.96 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the firm earned $5.00 EPS. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 2.81%. 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.